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

Investment analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler cut their target price on Provident Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th.

Provident Financial Stock Performance

Shares of PROV opened at $15.95 on Thursday. The business’s fifty day moving average price is $15.88 and its 200 day moving average price is $14.96. Provident Financial has a 12-month low of $12.01 and a 12-month high of $16.70. The stock has a market capitalization of $107.87 million, a PE ratio of 17.53 and a beta of 0.39. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm earned $0.31 earnings per share. Equities research analysts forecast that Provident Financial will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent reporting period. 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.