Initiates Coverage on Provident Financial (NASDAQ:PROV)

Analysts at began coverage on shares of Provident Financial (NASDAQ:PROVGet Free Report) in a research report issued on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on shares of Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st.

View Our Latest Report on PROV

Provident Financial Stock Up 1.1 %

Shares of Provident Financial stock opened at $12.49 on Wednesday. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The company has a 50 day moving average of $12.76 and a 200 day moving average of $13.25. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $85.91 million, a P/E ratio of 12.01 and a beta of 0.41.

Provident Financial (NASDAQ:PROVGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). The company had revenue of $9.41 million for the quarter, compared to analysts’ expectations of $9.72 million. Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. As a group, research analysts forecast that Provident Financial will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Provident Financial

(Get Free Report)

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.

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