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

Stock analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV - Get Free Report) in a research note issued to investors on Tuesday. The firm set a "hold" rating on the financial services provider's stock.

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

Provident Financial Stock Up 0.1%

Provident Financial stock traded up $0.01 during midday trading on Tuesday, hitting $15.55. 3,295 shares of the stock were exchanged, compared to its average volume of 7,416. Provident Financial has a 52-week low of $12.01 and a 52-week high of $16.70. The stock has a market capitalization of $104.05 million, a price-to-earnings ratio of 17.09 and a beta of 0.33. The business's 50-day moving average price is $14.51 and its 200-day moving average price is $15.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.91.

Provident Financial (NASDAQ:PROV - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate 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. On average, research analysts expect that Provident Financial will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its position in shares of Provident Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 1,307 shares during the last quarter. Fourthstone LLC boosted its stake in shares of Provident Financial by 30.5% in the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider's stock valued at $1,433,000 after purchasing an additional 21,030 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $7,737,000 after acquiring an additional 1,342 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in 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 worth $5,326,000 after acquiring an additional 23,117 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock worth $421,000 after acquiring an additional 5,445 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

About Provident Financial

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.