Provident Financial (NASDAQ:PROV) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research note published on Wednesday morning. The firm issued a hold rating on the financial services provider’s stock.

Provident Financial Trading Down 0.2 %

Shares of PROV stock opened at $12.90 on Wednesday. The firm has a market cap of $89.40 million, a P/E ratio of 11.22 and a beta of 0.40. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50-day simple moving average is $13.77 and its 200-day simple moving average is $13.00.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $9.65 million for the quarter, compared to analyst estimates of $10.00 million. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. As a group, equities analysts forecast that Provident Financial will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. boosted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,798 shares of the financial services provider’s stock after buying an additional 1,173 shares during the period. Federated Hermes Inc. owned approximately 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. 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.