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

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

Shares of Provident Financial stock opened at $14.40 on Wednesday. Provident Financial has a one year low of $13.76 and a one year high of $18.25. The company has a market cap of $104.90 million, a PE ratio of 10.91 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $16.02.

Provident Financial (NASDAQ:PROVGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Provident Financial had a net margin of 25.79% and a return on equity of 7.80%. The firm had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $9.10 million. During the same quarter in the prior year, the firm posted $0.21 EPS.

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Provident Financial by 2.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock worth $5,826,000 after buying an additional 8,604 shares during the last quarter. Federated Hermes Inc. grew its stake in Provident Financial by 7.9% during the 1st quarter. Federated Hermes Inc. now owns 30,459 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 2,234 shares in the last quarter. BlackRock Inc. grew its stake in Provident Financial by 0.6% during the 4th quarter. BlackRock Inc. now owns 298,134 shares of the financial services provider’s stock valued at $4,928,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Provident Financial by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 38,253 shares of the financial services provider’s stock worth $653,000 after acquiring an additional 5,408 shares in the last quarter. 60.15% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Company Profile (Get Rating)

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. Its 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.

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