Provident Financial (NASDAQ:PROV) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th.

Provident Financial Price Performance

Shares of NASDAQ:PROV opened at $14.65 on Friday. 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 1.91. The company has a market cap of $98.02 million, a price-to-earnings ratio of 16.10 and a beta of 0.19. The business has a 50 day moving average price of $14.50 and a 200 day moving average price of $15.30.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same quarter in the prior year, the business posted $0.31 earnings per share. Research analysts predict that Provident Financial will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Provident Financial by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after buying an additional 1,342 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Provident Financial by 7.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after buying an additional 23,117 shares in the last quarter. Fourthstone LLC increased its position in Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 21,030 shares during the period. Black Maple Capital Management LP grew its stake in shares of Provident Financial by 8.9% in the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Provident Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 1,307 shares during the period. 71.34% of the stock is owned by institutional investors.

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.