Provident Financial (NASDAQ:PROV) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV – Get Rating) in a research report released on Monday morning. The firm issued a hold rating on the financial services provider’s stock.

Provident Financial Price Performance

Shares of NASDAQ PROV opened at $14.17 on Monday. The firm’s 50-day moving average price is $14.26 and its 200-day moving average price is $14.24. Provident Financial has a 1-year low of $13.29 and a 1-year high of $16.75. The firm has a market capitalization of $100.56 million, a P/E ratio of 11.91 and a beta of 0.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 14th were issued a $0.14 dividend. The ex-dividend date was Monday, February 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.95%. Provident Financial’s dividend payout ratio is presently 47.06%.

Institutional Investors Weigh In On Provident Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Talbot Financial LLC acquired a new stake in shares of Provident Financial in the 4th quarter worth about $852,000. Prelude Capital Management LLC purchased a new position in shares of Provident Financial in the 3rd quarter worth approximately $251,000. M3F Inc. boosted its stake in shares of Provident Financial by 2.3% in the 3rd quarter. M3F Inc. now owns 705,102 shares of the financial services provider’s stock worth $10,012,000 after buying an additional 15,646 shares during the last quarter. Raffles Associates LP grew its holdings in shares of Provident Financial by 4.1% in the third quarter. Raffles Associates LP now owns 381,349 shares of the financial services provider’s stock valued at $5,415,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of 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 valued at $220,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 51.18% of the company’s stock.

Provident Financial Company Profile

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Provident Financial Holdings, Inc engages in the provision of financial services. Its services include checking, savings, investment services, mobile banking, online banking, merchant services, cyber security tips, and loan programs and application. The company was founded in January 1996 and is headquartered in Riverside, CA.