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

Investment analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday.

Provident Financial Stock Performance

Shares of NASDAQ PROV opened at $12.56 on Thursday. The stock has a market cap of $87.04 million, a price-to-earnings ratio of 12.08 and a beta of 0.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40. The stock’s 50-day moving average is $13.68 and its 200 day moving average is $13.01.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $10.00 million. Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. On average, sell-side analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. boosted its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the period. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. 71.34% of the stock is owned by institutional investors.

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.