Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV - Free Report) in a research note published on Wednesday. The firm issued a hold rating on the financial services provider's stock.

Separately, Piper Sandler cut their price objective on Provident Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th.

Provident Financial Stock Down 0.3 %

PROV stock traded down $0.05 during mid-day trading on Wednesday, hitting $14.45. 1,976 shares of the company were exchanged, compared to its average volume of 7,390. The firm has a market cap of $96.68 million, a P/E ratio of 15.88 and a beta of 0.35. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.25 and a current ratio of 1.25. The firm's 50 day simple moving average is $15.16 and its 200 day simple moving average is $15.33.

Provident Financial (NASDAQ:PROV - Get Free Report) last released 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 period last year, the company posted $0.31 earnings per share. On average, sell-side analysts predict that Provident Financial will post 0.9 EPS for the current fiscal year.

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Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Thursday, February 13th. Provident Financial's dividend payout ratio (DPR) is presently 61.54%.

Institutional Trading of Provident Financial

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC increased its holdings in shares of Provident Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider's stock worth $429,000 after acquiring an additional 1,307 shares during the last quarter. Fourthstone LLC acquired a new position in shares of Provident Financial in the third quarter valued at $991,000. Northern Trust Corp raised its position in shares of Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 5,445 shares during the period. 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. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Provident Financial by 7.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider's stock worth $5,326,000 after buying an additional 23,117 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.