StockNews.com Begins Coverage on Provident Financial (NASDAQ:PROV)

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

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

Provident Financial Stock Performance

Shares of Provident Financial stock opened at $15.90 on Thursday. The stock’s fifty day moving average is $15.88 and its two-hundred day moving average is $14.98. The company has a market capitalization of $107.48 million, a PE ratio of 17.47 and a beta of 0.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.80%. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, analysts expect that Provident Financial will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the quarter. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 as of its most recent SEC filing. 71.34% of the stock is currently owned by institutional investors.

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.