Provident Financial (NASDAQ:PROV) Receives New Coverage from Analysts at StockNews.com

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

Separately, Piper Sandler reduced their price target on shares of Provident Financial from $15.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday, May 1st.

Provident Financial Price Performance

Shares of PROV stock opened at $12.85 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.21 and a current ratio of 1.21. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.40. The firm has a market capitalization of $89.05 million, a PE ratio of 12.36 and a beta of 0.40. The stock’s 50-day simple moving average is $13.60 and its 200-day simple moving average is $13.02.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.56 annualized dividend and a dividend yield of 4.36%. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. lifted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. Hedge funds and other 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.