Provident Financial (NASDAQ:PROV) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Provident Financial (NASDAQ:PROV) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07), Zacks reports. Provident Financial had a net margin of 11.16% and a return on equity of 5.23%.

Provident Financial Trading Down 0.2%

NASDAQ:PROV opened at $18.16 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $112.59 million, a price-to-earnings ratio of 17.63 and a beta of 0.32. Provident Financial has a one year low of $14.95 and a one year high of $18.99. The business has a fifty day moving average price of $18.32 and a 200-day moving average price of $17.15.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, November 12th. Provident Financial’s dividend payout ratio is 54.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 16th. Wall Street Zen upgraded shares of Provident Financial to a “hold” rating in a research note on Saturday, October 3rd. Finally, Zacks Research cut shares of Provident Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Provident Financial Company Profile

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.