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

StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Provident Financial Stock Up 0.6 %

Shares of PROV stock opened at $13.44 on Tuesday. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.40. The firm has a market cap of $93.14 million, a PE ratio of 11.69 and a beta of 0.40. The stock has a 50 day moving average of $13.91 and a 200-day moving average of $12.99. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Provident Financial had a return on equity of 6.20% and a net margin of 14.43%. The company had revenue of $9.65 million during the quarter, compared to analyst estimates of $10.00 million. On average, equities analysts predict that Provident Financial will post 1.05 EPS for the current year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.17%. Provident Financial’s dividend payout ratio (DPR) is presently 48.70%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PROV. Bank of America Corp DE raised its stake in shares of Provident Financial by 49,616.7% in the first quarter. Bank of America Corp DE now owns 5,966 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 5,954 shares in the last quarter. Royal Bank of Canada raised its stake in Provident Financial by 8.4% during the third quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 1,200 shares in the last quarter. Northern Trust Corp raised its stake in Provident Financial by 10.0% during the second quarter. Northern Trust Corp now owns 18,063 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 1,647 shares in the last quarter. Prelude Capital Management LLC acquired a new position in Provident Financial during the third quarter worth $251,000. Finally, Federated Hermes Inc. raised its stake in Provident Financial by 4.8% during the third quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 1,173 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.