Provident Financial (NASDAQ:PROV) Announces Quarterly Earnings Results

Provident Financial (NASDAQ:PROV) released its quarterly earnings data on Monday. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. The company had revenue of $15.38 million during the quarter, compared to the consensus estimate of $9.57 million. During the same period in the previous year, the firm earned $0.26 earnings per share.

Provident Financial Stock Down 6.5 %

Shares of NASDAQ:PROV opened at $12.72 on Wednesday. The company’s fifty day moving average is $12.63 and its two-hundred day moving average is $13.32. The stock has a market capitalization of $87.51 million, a price-to-earnings ratio of 12.23 and a beta of 0.39. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 4.40%. Provident Financial’s dividend payout ratio (DPR) is 53.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com assumed coverage on shares of Provident Financial in a research note on Monday. They issued a “hold” rating for the company.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.