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

Investment analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV - Get Free Report) in a report issued on Wednesday. The brokerage set a "hold" rating on the financial services provider's stock.

Separately, Piper Sandler boosted their target price on shares of Provident Financial from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st.

Provident Financial Trading Up 2.5 %

Provident Financial stock traded up $0.39 during mid-day trading on Wednesday, reaching $15.85. 5,719 shares of the company traded hands, compared to its average volume of 6,959. The firm's 50 day moving average price is $14.46 and its 200 day moving average price is $13.37. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.85. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $107.30 million, a price-to-earnings ratio of 14.59 and a beta of 0.40.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a net margin of 12.53% and a return on equity of 5.67%. The business had revenue of $14.97 million during the quarter, compared to analyst estimates of $9.74 million. During the same period last year, the business posted $0.25 earnings per share. On average, analysts anticipate that Provident Financial will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC raised its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,831 shares of the financial services provider's stock after purchasing an additional 1,575 shares during the quarter. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.