Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROVGet Rating) in a report issued on Monday morning. The firm issued a hold rating on the financial services provider’s stock.

Provident Financial Stock Performance

Shares of PROV opened at $14.72 on Monday. The company has a 50-day simple moving average of $14.28 and a 200-day simple moving average of $14.44. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $105.98 million, a PE ratio of 12.69 and a beta of 0.45. Provident Financial has a 52-week low of $13.50 and a 52-week high of $17.37.

Provident Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.80%. Provident Financial’s dividend payout ratio is presently 48.28%.

Hedge Funds Weigh In On Provident Financial

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Provident Financial by 2.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock valued at $5,826,000 after acquiring an additional 8,604 shares in the last quarter. Federated Hermes Inc. increased its holdings in Provident Financial by 7.9% during the 1st quarter. Federated Hermes Inc. now owns 30,459 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 2,234 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Provident Financial during the 3rd quarter valued at about $251,000. Royal Bank of Canada increased its holdings in Provident Financial by 8.4% during the 3rd quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 1,200 shares in the last quarter. Finally, M3F Inc. increased its holdings in Provident Financial by 2.3% during the 3rd quarter. M3F Inc. now owns 705,102 shares of the financial services provider’s stock valued at $10,012,000 after acquiring an additional 15,646 shares in the last quarter. 50.61% of the stock is currently owned by hedge funds and other institutional investors.

About Provident Financial

(Get Rating)

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.

Further Reading

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