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

StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV - Free Report) in a research note released on Sunday morning. The brokerage issued a hold rating on the financial services provider's stock.

Separately, Piper Sandler dropped their target price on Provident Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th.

Provident Financial Stock Performance

NASDAQ PROV traded down $0.09 during trading hours on Friday, hitting $14.82. The company had a trading volume of 3,295 shares, compared to its average volume of 5,771. Provident Financial has a fifty-two week low of $12.01 and a fifty-two week high of $16.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $15.29. The firm has a market cap of $99.16 million, a P/E ratio of 16.29 and a beta of 0.39.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. During the same period last year, the business earned $0.31 earnings per share. Equities analysts predict that Provident Financial will post 0.9 EPS for the current year.

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Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 13th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.56 annualized dividend and a dividend yield of 3.78%. Provident Financial's payout ratio is 61.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Provident Financial by 4.9% in the third quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider's stock worth $368,000 after purchasing an additional 1,206 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Provident Financial by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider's stock worth $7,737,000 after purchasing an additional 1,342 shares in the last quarter. Black Maple Capital Management LP boosted its stake in Provident Financial by 8.9% during the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider's stock valued at $495,000 after buying an additional 2,557 shares in the last quarter. Northern Trust Corp boosted its stake in Provident Financial by 25.9% during the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock valued at $421,000 after buying an additional 5,445 shares in the last quarter. Finally, Fourthstone LLC boosted its stake in Provident Financial by 30.5% during the fourth quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider's stock valued at $1,433,000 after buying an additional 21,030 shares in the last quarter. Institutional investors 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.