StockNews.com Begins Coverage on Provident Financial (NASDAQ:PROV)

Research analysts at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Provident Financial Trading Down 0.5 %

Shares of NASDAQ:PROV opened at $12.93 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The firm has a fifty day moving average of $13.80 and a two-hundred day moving average of $13.00. The firm has a market capitalization of $89.60 million, a P/E ratio of 11.24 and a beta of 0.40.

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

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the period. Federated Hermes Inc. owned 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. Institutional investors 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.