StockNews.com Begins Coverage on Provident Financial (NASDAQ:PROV)

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROVFree Report) in a report released on Saturday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on shares of Provident Financial from $15.00 to $14.00 and set a neutral rating for the company in a report on Wednesday, May 1st.

View Our Latest Analysis on PROV

Provident Financial Trading Up 0.4 %

Shares of PROV opened at $12.59 on Friday. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40. The company has a 50-day moving average of $13.27 and a 200 day moving average of $13.05. The firm has a market capitalization of $86.62 million, a price-to-earnings ratio of 12.11 and a beta of 0.40. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.21 and a quick ratio of 1.21.

Provident Financial (NASDAQ:PROVGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. The company had revenue of $9.41 million for the quarter, compared to the consensus estimate of $9.72 million. On average, research analysts expect that Provident Financial will post 0.99 EPS for the current year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.56 annualized dividend and a dividend yield of 4.45%. Provident Financial’s dividend payout ratio is currently 53.85%.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. lifted its position in Provident Financial Holdings, Inc. (NASDAQ:PROVFree Report) by 4.8% during the third quarter, according to the company in 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 period. Federated Hermes Inc. owned approximately 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company’s stock.

Provident Financial Company Profile

(Get Free Report)

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.

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