Provident Financial (NASDAQ:PROV) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV – Get Rating) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

PROV stock opened at $13.93 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.63. Provident Financial has a twelve month low of $13.76 and a twelve month high of $18.25. The stock has a market capitalization of $101.48 million, a price-to-earnings ratio of 10.55 and a beta of 0.58. The firm’s fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $15.99.

Provident Financial (NASDAQ:PROV – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The business had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $9.10 million. Provident Financial had a return on equity of 7.80% and a net margin of 25.79%. During the same period last year, the company earned $0.21 earnings per share.

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. raised its holdings in shares of Provident Financial by 7.9% during the 1st quarter. Federated Hermes Inc. now owns 30,459 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,234 shares during the period. BlackRock Inc. grew its position in Provident Financial by 4.8% in the 3rd quarter. BlackRock Inc. now owns 296,241 shares of the financial services provider’s stock valued at $4,992,000 after acquiring an additional 13,440 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Provident Financial by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock worth $5,826,000 after buying an additional 8,604 shares in the last quarter. Institutional investors own 60.15% of the company’s stock.

Provident Financial Company Profile (Get Rating)

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. Its 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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