StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.
Separately, Piper Sandler cut their price target on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday.
View Our Latest Research Report on PROV
Provident Financial Trading Down 2.9 %
Provident Financial (NASDAQ:PROV – Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $10.00 million. Research analysts forecast that Provident Financial will post 1.05 EPS for the current year.
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 shares of Provident Financial Holdings, Inc. (NASDAQ:PROV – Free Report) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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. 71.34% of the stock is currently 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.
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