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

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV – Get Rating) in a report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on shares of Provident Financial to $15.50 in a report on Monday, July 4th.

Provident Financial Stock Down 0.1 %

PROV stock opened at $14.73 on Friday. The company has a market cap of $107.38 million, a P/E ratio of 11.16 and a beta of 0.55. Provident Financial has a 52 week low of $13.76 and a 52 week high of $18.25. The company’s 50-day moving average price is $14.59 and its 200 day moving average price is $15.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63.

Provident Financial (NASDAQ:PROV – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $9.10 million. Provident Financial had a return on equity of 7.80% and a net margin of 25.79%. During the same period in the prior year, the firm posted $0.21 EPS.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. boosted its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV – Get Rating) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,459 shares of the financial services provider’s stock after acquiring an additional 2,234 shares during the period. Federated Hermes Inc. owned about 0.42% of Provident Financial worth $504,000 at the end of the most recent reporting period. 60.15% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Company Profile

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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.