StockNews.com Begins Coverage on Provident Financial (NASDAQ:PROV)

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV - Free Report) in a research report report published on Monday. The firm issued a hold rating on the financial services provider's stock.

Separately, Piper Sandler reduced their target price on shares of Provident Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th.

Provident Financial Stock Performance

NASDAQ PROV traded up $0.14 during trading on Monday, hitting $15.11. The company's stock had a trading volume of 7,172 shares, compared to its average volume of 7,438. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. 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 firm has a market cap of $101.07 million, a P/E ratio of 16.60 and a beta of 0.33. The firm has a 50 day moving average price of $14.44 and a 200 day moving average price of $15.31.

Provident Financial (NASDAQ:PROV - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. The business had revenue of $10.12 million for the quarter, compared to analyst estimates of $9.86 million. Equities research analysts forecast that Provident Financial will post 0.9 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 15th will be paid a $0.14 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.71%. Provident Financial's payout ratio is 57.73%.

Institutional Investors Weigh In On Provident Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Provident Financial by 7.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider's stock worth $5,326,000 after acquiring an additional 23,117 shares during the period. Fourthstone LLC lifted its stake in Provident Financial by 30.5% during the fourth quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider's stock worth $1,433,000 after purchasing an additional 21,030 shares during the period. Northern Trust Corp boosted 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 valued at $421,000 after purchasing an additional 5,445 shares in the last quarter. Black Maple Capital Management LP boosted its holdings in Provident Financial by 8.9% during the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Provident Financial by 0.3% in 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 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.