Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research note published on Wednesday. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler lowered 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 note on Wednesday, January 29th.

Provident Financial Stock Performance

PROV opened at $14.45 on Wednesday. The company has a market capitalization of $96.68 million, a price-to-earnings ratio of 15.88 and a beta of 0.35. The business’s 50-day moving average price is $15.16 and its two-hundred day moving average price is $15.32. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.25 and a quick ratio of 1.25. Provident Financial has a 1 year low of $12.01 and a 1 year high of $16.70.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share 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 quarter in the prior year, the firm earned $0.31 EPS. Equities analysts expect that Provident Financial will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th were paid a $0.14 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.56 dividend on an annualized basis and a yield of 3.88%. Provident Financial’s dividend payout ratio is 61.54%.

Institutional Investors Weigh In On Provident Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp increased its holdings in Provident Financial by 25.9% during the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after buying an additional 5,445 shares during the last quarter. Empowered Funds LLC grew its position in shares of Provident Financial by 5.1% in the 4th 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 during the period. Black Maple Capital Management LP increased its stake in shares of 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. Fourthstone LLC bought a new stake in shares of Provident Financial in the 3rd quarter valued at about $991,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Provident Financial by 7.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after purchasing an additional 23,117 shares during the period. Institutional investors 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.