Provident Financial (NASDAQ:PROV) Coverage Initiated at Wall Street Zen

Stock analysts at Wall Street Zen initiated coverage on shares of Provident Financial (NASDAQ:PROV - Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set a "hold" rating on the financial services provider's stock.

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

Provident Financial Stock Performance

Shares of NASDAQ:PROV traded down $0.06 during midday trading on Wednesday, reaching $14.96. 2,009 shares of the company traded hands, compared to its average volume of 7,457. 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 has a 12 month low of $12.01 and a 12 month high of $16.70. The firm has a market capitalization of $100.10 million, a price-to-earnings ratio of 16.44 and a beta of 0.33. The firm's fifty day moving average price is $14.62 and its two-hundred day moving average price is $15.29.

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 for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. The business had revenue of $10.12 million for the quarter, compared to analyst estimates of $9.86 million. Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. On average, equities analysts expect that Provident Financial will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Provident Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in Provident Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider's stock worth $429,000 after acquiring an additional 1,307 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $7,737,000 after purchasing an additional 1,342 shares in the last quarter. M3F Inc. boosted 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 worth $6,394,000 after purchasing an additional 2,215 shares in the last quarter. Black Maple Capital Management LP boosted its holdings in shares of Provident Financial by 8.9% in the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider's stock worth $495,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of 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 purchasing an additional 5,445 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.