Provident Financial (NASDAQ:PROV) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV - Get Free Report) in a report released on Sunday. The firm set a "hold" rating on the financial services provider's stock.

Separately, Piper Sandler decreased their price target 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 Up 2.0 %

Shares of NASDAQ:PROV traded up $0.30 during trading on Friday, hitting $15.31. 7,950 shares of the company's stock traded hands, compared to its average volume of 7,421. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. The company has a 50-day moving average price of $14.46 and a 200-day moving average price of $15.31. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The company has a market cap of $102.44 million, a price-to-earnings ratio of 16.82 and a beta of 0.19.

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

Institutional Trading of Provident Financial

A number of hedge funds and other institutional investors have recently modified their holdings of PROV. The Manufacturers Life Insurance Company grew its stake in Provident Financial by 7.4% in the fourth 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 in the last quarter. Fourthstone LLC boosted its holdings 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 buying an additional 21,030 shares during the last quarter. Northern Trust Corp grew its stake in shares of Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock valued at $421,000 after buying an additional 5,445 shares in the last quarter. Black Maple Capital Management LP increased 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 worth $495,000 after buying an additional 2,557 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Provident Financial by 0.3% during the fourth 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 in the last quarter. Institutional investors and hedge funds 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.