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

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

Provident Financial Price Performance

Shares of PROV stock opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50-day moving average is $13.77 and its two-hundred day moving average is $13.00. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.40. The company has a market capitalization of $89.40 million, a PE ratio of 11.22 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. The company had revenue of $9.65 million for the quarter, compared to the consensus estimate of $10.00 million. Analysts predict that Provident Financial will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. raised its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,798 shares of the financial services provider’s stock after acquiring an additional 1,173 shares during the period. Federated Hermes Inc. owned approximately 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. 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.