Provident Financial (NASDAQ:PROV) PT Lowered to $14.00 at Piper Sandler

Provident Financial (NASDAQ:PROV) had its price objective cut by Piper Sandler from $15.00 to $14.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, StockNews.com assumed coverage on shares of Provident Financial in a report on Wednesday, April 24th. They set a hold rating for the company.

Provident Financial Trading Down 2.9 %

NASDAQ:PROV opened at $12.56 on Wednesday. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The firm has a market cap of $87.04 million, a PE ratio of 12.08 and a beta of 0.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. The stock has a fifty day moving average price of $13.68 and a 200 day moving average price of $13.01.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. The business had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $10.00 million. Sell-side analysts anticipate that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.56 annualized dividend and a yield of 4.46%. Provident Financial’s dividend payout ratio is currently 53.85%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. increased its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,798 shares of the financial services provider’s stock after buying an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.