Provident Financial (NASDAQ:PROV) Issues Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Provident Financial reported quarterly EPS of $0.25, missing analysts’ $0.32 consensus estimate by $0.07. The company posted an 11.16% net margin and 5.23% return on equity.
• Shares opened at $18.16, near their 52-week high of $18.99, with a market capitalization of approximately $112.6 million and a price-to-earnings ratio of 17.63.
• The company declared a quarterly dividend of $0.14 per share, equivalent to $0.56 annually and a 3.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an $18.00 price target.

Provident Financial (NASDAQ:PROV - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.07), Zacks reports. Provident Financial had a net margin of 11.16% and a return on equity of 5.23%.

Provident Financial Stock Performance

Shares of NASDAQ PROV opened at $18.16 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm's 50-day moving average price is $18.32 and its 200-day moving average price is $17.15. Provident Financial has a 52-week low of $14.95 and a 52-week high of $18.99. The company has a market cap of $112.59 million, a PE ratio of 17.63 and a beta of 0.32.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, November 12th. This represents a $0.56 annualized dividend and a yield of 3.1%. Provident Financial's dividend payout ratio is currently 54.37%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PROV shares. Zacks Research downgraded shares of Provident Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. Piper Sandler raised their price target on shares of Provident Financial from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Provident Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Provident Financial to a "hold" rating in a report on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Provident Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

About Provident Financial

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.

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