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

Equities researchers at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler reduced their price objective on shares of Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Provident Financial Stock Performance

NASDAQ PROV opened at $12.85 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. The stock has a market cap of $89.05 million, a price-to-earnings ratio of 12.36 and a beta of 0.40. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.40. The business has a fifty day moving average of $13.60 and a 200-day moving average of $13.01.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. lifted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 as of its most recent filing with the SEC. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.