Provident Financial (NASDAQ:PROV) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV - Free Report) in a research report sent to investors on Friday. The firm issued a hold rating on the financial services provider's stock.

Separately, Piper Sandler upped their price target on shares of Provident Financial from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

NASDAQ:PROV traded up $0.03 on Friday, hitting $16.44. The company's stock had a trading volume of 5,999 shares, compared to its average volume of 7,215. Provident Financial has a one year low of $12.01 and a one year high of $16.70. The firm has a market capitalization of $111.18 million, a P/E ratio of 15.08 and a beta of 0.38. The stock has a fifty day moving average of $15.74 and a two-hundred day moving average of $14.18. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93.

Provident Financial (NASDAQ:PROV - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The business had revenue of $14.97 million for the quarter, compared to analysts' expectations of $9.74 million. During the same quarter in the prior year, the business earned $0.25 EPS. Research analysts predict that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, November 14th. Provident Financial's dividend payout ratio (DPR) is 51.38%.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC boosted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 4.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,657 shares of the financial services provider's stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. Institutional investors own 71.34% of the company's stock.

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.