Provident Financial (NASDAQ:PROV) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Provident Financial's stock has received a "hold (c)" rating from Weiss Ratings, reaffirming the cautious stance of analysts on the company's performance.
• Piper Sandler has set a price target of $16.50 for Provident Financial, indicating a neutral outlook based on recent evaluations.
• The company reported an EPS of $0.24 for the last quarter, missing estimates by $0.05, alongside a revenue of $9.76 million, which also fell short of expectations.

Provident Financial (NASDAQ:PROV - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Piper Sandler raised Provident Financial to a "neutral" rating and set a $16.50 price target for the company in a report on Monday, July 14th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Provident Financial currently has an average rating of "Hold" and a consensus target price of $16.50.

Provident Financial Price Performance

PROV opened at $15.85 on Wednesday. The stock's 50 day simple moving average is $15.51 and its 200 day simple moving average is $15.22. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.22 and a quick ratio of 1.22. Provident Financial has a 1 year low of $12.98 and a 1 year high of $16.70. The firm has a market cap of $104.25 million, a price-to-earnings ratio of 17.04 and a beta of 0.40.

Provident Financial (NASDAQ:PROV - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). The firm had revenue of $9.76 million during the quarter, compared to analysts' expectations of $10.50 million. Provident Financial had a net margin of 10.40% and a return on equity of 4.85%. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, analysts predict that Provident Financial will post 0.9 earnings per share for the current year.

Institutional Trading of Provident Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourthstone LLC lifted its holdings in shares of Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider's stock valued at $1,786,000 after buying an additional 27,556 shares during the period. Empowered Funds LLC lifted its holdings in shares of Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider's stock valued at $424,000 after buying an additional 2,120 shares during the period. Finally, M3F Inc. lifted its holdings in shares of Provident Financial by 0.5% in the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider's stock valued at $6,394,000 after buying an additional 2,215 shares during the period. 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.

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