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

Research analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price target on shares of Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th.

Provident Financial Stock Up 2.8 %

PROV stock opened at $14.50 on Wednesday. The company has a market capitalization of $97.02 million, a price-to-earnings ratio of 15.93 and a beta of 0.35. 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 business’s 50 day moving average price is $15.17 and its two-hundred day moving average price is $15.32. Provident Financial has a fifty-two week low of $12.01 and a fifty-two week high of $16.70.

Provident Financial (NASDAQ:PROV) last issued its quarterly 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 in the previous year, the firm earned $0.31 earnings per share. As a group, analysts forecast that Provident Financial will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of Provident Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Provident Financial by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock valued at $7,737,000 after buying an additional 1,342 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Provident Financial by 7.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock worth $5,326,000 after acquiring an additional 23,117 shares during the last quarter. Fourthstone LLC increased its holdings in shares of 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 acquiring an additional 21,030 shares in the last quarter. Black Maple Capital Management LP raised its position in shares of Provident Financial by 8.9% in the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Provident Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,307 shares in the last quarter. Hedge funds and other 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.