Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler upped their price objective on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Provident Financial Trading Up 3.0 %

NASDAQ PROV opened at $15.73 on Tuesday. The firm has a market capitalization of $106.33 million, a PE ratio of 14.43 and a beta of 0.38. The stock’s 50 day moving average is $15.87 and its 200 day moving average is $14.73. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts forecast that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.