Provident Financial (NASDAQ:PROV) Research Coverage Started at StockNews.com

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

Provident Financial Price Performance

Provident Financial stock opened at $13.38 on Tuesday. The company has a fifty day simple moving average of $13.89 and a 200-day simple moving average of $13.00. The firm has a market capitalization of $92.68 million, a price-to-earnings ratio of 11.63 and a beta of 0.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $9.65 million during the quarter, compared to the consensus estimate of $10.00 million. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. On average, equities analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Provident Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.19%. Provident Financial’s dividend payout ratio is currently 48.70%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of Provident Financial by 49,616.7% during the 1st quarter. Bank of America Corp DE now owns 5,966 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 5,954 shares during the period. Royal Bank of Canada lifted its stake in Provident Financial by 8.4% during the third quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 1,200 shares in the last quarter. Northern Trust Corp boosted its position in shares of Provident Financial by 10.0% during the second quarter. Northern Trust Corp now owns 18,063 shares of the financial services provider’s stock worth $230,000 after buying an additional 1,647 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of Provident Financial in the third quarter valued at $251,000. Finally, Federated Hermes Inc. lifted its stake in Provident Financial by 4.8% during the 3rd quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 1,173 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

About Provident Financial

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.