Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Provident Financial Holdings (PROV) Share Price
Media stories about Provident Financial Holdings (NASDAQ:PROV) have trended somewhat positive recently, Accern Sentiment reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Provident Financial Holdings earned a news impact score of 0.16 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 46.6033914802328 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Separately, Hovde Group initiated coverage on shares of Provident Financial Holdings in a research note on Tuesday, April 11th. They issued a “market perform” rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Provident Financial Holdings has a consensus rating of “Hold” and a consensus target price of $19.50.
Provident Financial Holdings (NASDAQ:PROV) opened at 19.05 on Thursday. The stock has a market capitalization of $150.32 million and a P/E ratio of 22.79. The stock has a 50 day moving average of $19.34 and a 200 day moving average of $19.01. Provident Financial Holdings has a 1-year low of $17.67 and a 1-year high of $20.66.
Provident Financial Holdings (NASDAQ:PROV) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by $0.02. Provident Financial Holdings had a return on equity of 5.12% and a net margin of 8.85%. The business had revenue of $15.44 million during the quarter, compared to analysts’ expectations of $16.79 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, analysts expect that Provident Financial Holdings will post $0.70 earnings per share for the current year.
Provident Financial Holdings announced that its board has approved a stock repurchase program on Monday, June 19th that allows the company to repurchase 390,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Debbi Guthrie sold 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $19.10, for a total value of $106,960.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 15.71% of the stock is owned by insiders.
About Provident Financial Holdings
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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