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

Research analysts at StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued to investors on Monday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler cut their price target on 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 Trading Down 2.9 %

Shares of PROV stock opened at $14.97 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. The stock has a 50-day moving average of $14.44 and a 200-day moving average of $15.31. The stock has a market cap of $100.16 million, a price-to-earnings ratio of 16.45 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. The business had revenue of $10.12 million during the quarter, compared to the consensus estimate of $9.86 million. On average, equities research analysts forecast that Provident Financial will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 5,445 shares during the period. Empowered Funds LLC raised 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 valued at $429,000 after acquiring an additional 1,307 shares during the period. Black Maple Capital Management LP lifted its stake in shares of Provident Financial by 8.9% during the 4th 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. Fourthstone LLC boosted its holdings in shares of Provident Financial by 30.5% in the fourth quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 21,030 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Provident Financial by 7.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after buying an additional 23,117 shares in the last quarter. 71.34% of the stock is currently 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.