Provident Financial (NASDAQ:PROV) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued on Friday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler cut their target price on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st.

Provident Financial Trading Up 2.6 %

Shares of PROV stock opened at $12.97 on Friday. 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 has a twelve month low of $10.16 and a twelve month high of $15.40. The company’s 50-day moving average price is $13.48 and its 200-day moving average price is $13.02. The stock has a market cap of $89.84 million, a price-to-earnings ratio of 12.47 and a beta of 0.40.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the period. Empowered Funds LLC owned about 0.33% of Provident Financial worth $305,000 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.