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

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROVGet Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Shares of Provident Financial stock opened at $15.30 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $16.10 and its two-hundred day moving average price is $16.55. Provident Financial has a 52 week low of $14.89 and a 52 week high of $18.48. The stock has a market cap of $112.76 million, a PE ratio of 11.59 and a beta of 0.58.

Provident Financial (NASDAQ:PROVGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Provident Financial had a return on equity of 7.80% and a net margin of 25.79%. During the same quarter in the prior year, the firm earned $0.21 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Provident Financial by 0.6% during the 4th quarter. BlackRock Inc. now owns 298,134 shares of the financial services provider’s stock worth $4,928,000 after buying an additional 1,893 shares during the period. Geode Capital Management LLC raised its holdings in Provident Financial by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 38,253 shares of the financial services provider’s stock worth $653,000 after buying an additional 5,408 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Provident Financial by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 343,663 shares of the financial services provider’s stock worth $5,688,000 after buying an additional 9,409 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Provident Financial by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 334,254 shares of the financial services provider’s stock worth $5,632,000 after buying an additional 9,488 shares during the period. Finally, M3F Inc. raised its holdings in Provident Financial by 2.0% during the 3rd quarter. M3F Inc. now owns 585,505 shares of the financial services provider’s stock worth $9,866,000 after buying an additional 11,434 shares during the period. Hedge funds and other institutional investors own 60.15% of the company’s stock.

Provident Financial Company Profile (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. Its 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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