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

Investment analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler upped their target price on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

PROV opened at $15.27 on Tuesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.25 and a current ratio of 1.25. Provident Financial has a 52-week low of $12.01 and a 52-week high of $16.70. The firm has a market cap of $103.23 million, a P/E ratio of 14.01 and a beta of 0.38. The business’s fifty day moving average is $15.87 and its 200-day moving average is $14.72.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. The firm had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. During the same period last year, the firm earned $0.25 EPS. Sell-side analysts expect that Provident Financial will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC bought a new position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned approximately 1.02% of Provident Financial as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.