StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV – Free Report) in a research note released on Tuesday. The brokerage issued a hold rating on the financial services provider’s stock.
Separately, TheStreet lowered shares of Provident Financial from a b- rating to a c+ rating in a research report on Monday, October 23rd.
Check Out Our Latest Stock Analysis on Provident Financial
Provident Financial Stock Performance
NASDAQ PROV opened at $11.20 on Tuesday. The firm has a market capitalization of $78.29 million, a P/E ratio of 9.57 and a beta of 0.53. The stock has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $12.92. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.18 and a current ratio of 1.18. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $14.98.
Provident Financial (NASDAQ:PROV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). Provident Financial had a net margin of 15.52% and a return on equity of 6.38%. The company had revenue of $14.09 million for the quarter, compared to analysts’ expectations of $10.10 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. On average, equities analysts forecast that Provident Financial will post 1.05 earnings per share for the current year.
Provident Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Wednesday, November 15th. Provident Financial’s dividend payout ratio (DPR) is presently 47.86%.
Institutional Investors Weigh In On Provident Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in PROV. EA Series Trust acquired a new stake in shares of Provident Financial in the second quarter valued at about $230,000. Prelude Capital Management LLC purchased a new stake in Provident Financial during the 3rd quarter worth approximately $251,000. Black Maple Capital Management LP acquired a new position in shares of Provident Financial during the second quarter valued at approximately $154,000. Raffles Associates LP lifted its position in shares of Provident Financial by 2.6% in the first quarter. Raffles Associates LP now owns 391,349 shares of the financial services provider’s stock valued at $5,334,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Provident Financial by 6.4% in the second quarter. Baird Financial Group Inc. now owns 164,062 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 9,813 shares during the last quarter. Hedge funds and other institutional investors own 53.15% 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.
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