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

Equities researchers at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Friday. The firm set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Trading Down 2.3 %

PROV stock opened at $13.89 on Friday. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The company has a market cap of $92.94 million, a price-to-earnings ratio of 15.26 and a beta of 0.19. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $15.30.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. During the same period last year, the business earned $0.31 EPS. On average, equities research analysts expect that Provident Financial will post 0.9 EPS for the current year.

Institutional Trading of Provident Financial

Several large investors have recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Provident Financial by 5.1% during the fourth quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 1,307 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Provident Financial by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock valued at $7,737,000 after purchasing an additional 1,342 shares in the last quarter. Black Maple Capital Management LP increased its holdings in Provident Financial by 8.9% during the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 2,557 shares during the last quarter. Northern Trust Corp raised its position in shares of Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Fourthstone LLC boosted its stake in shares of Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 21,030 shares during the last quarter. 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.