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

Investment analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Provident Financial Stock Performance

PROV stock opened at $13.30 on Tuesday. Provident Financial has a 1 year low of $10.16 and a 1 year high of $15.40. The stock’s fifty day moving average is $13.96 and its two-hundred day moving average is $12.99. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $92.17 million, a price-to-earnings ratio of 11.57 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, beating 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 business had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $10.00 million. On average, research analysts predict that Provident Financial will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Raffles Associates LP increased its stake in Provident Financial by 2.6% in the 1st quarter. Raffles Associates LP now owns 391,349 shares of the financial services provider’s stock worth $5,334,000 after purchasing an additional 10,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Provident Financial by 2.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock valued at $5,826,000 after buying an additional 8,604 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Provident Financial by 0.8% during the 2nd quarter. BlackRock Inc. now owns 290,372 shares of the financial services provider’s stock valued at $3,702,000 after buying an additional 2,413 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Provident Financial by 6.4% during the 2nd quarter. Baird Financial Group Inc. now owns 164,062 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 9,813 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Provident Financial by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 67,673 shares of the financial services provider’s stock valued at $853,000 after buying an additional 1,896 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.