Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

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

Provident Financial Price Performance

Shares of NASDAQ:PROV opened at $12.90 on Wednesday. The firm’s 50 day moving average is $13.75 and its two-hundred day moving average is $13.01. Provident Financial has a 52 week low of $10.16 and a 52 week high of $15.40. The firm has a market capitalization of $89.40 million, a P/E ratio of 11.22 and a beta of 0.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The company 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%. Analysts anticipate that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, May 15th. Provident Financial’s payout ratio is 48.70%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. increased its position in 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 period. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. 71.34% of the stock is 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.