Provident Financial (NASDAQ:PROV) Now Covered by StockNews.com

Posted by on Apr 6th, 2023

Analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Provident Financial Price Performance

Shares of Provident Financial stock opened at $13.42 on Thursday. The business has a 50 day simple moving average of $14.03 and a two-hundred day simple moving average of $14.16. Provident Financial has a 12 month low of $13.29 and a 12 month high of $16.00. The stock has a market capitalization of $95.28 million, a P/E ratio of 11.28 and a beta of 0.48. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11.

Provident Financial (NASDAQ:PROV – Get Rating) last announced its earnings results on Friday, January 27th. The financial services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Provident Financial had a return on equity of 6.70% and a net margin of 20.16%. The business had revenue of $10.34 million during the quarter, compared to analysts’ expectations of $10.40 million.

Institutional Investors Weigh In On Provident Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Talbot Financial LLC acquired a new stake in shares of Provident Financial in the fourth quarter valued at approximately $852,000. Prelude Capital Management LLC acquired a new stake in shares of Provident Financial in the third quarter valued at approximately $251,000. M3F Inc. increased its holdings in shares of Provident Financial by 2.3% in the third quarter. M3F Inc. now owns 705,102 shares of the financial services provider’s stock valued at $10,012,000 after purchasing an additional 15,646 shares during the last quarter. Raffles Associates LP increased its holdings in shares of Provident Financial by 4.1% in the third quarter. Raffles Associates LP now owns 381,349 shares of the financial services provider’s stock valued at $5,415,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Provident Financial by 8.4% in the third quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 51.18% of the company’s stock.

Provident Financial Company Profile

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Provident Financial Holdings, Inc engages in the provision of financial services. Its services include checking, savings, investment services, mobile banking, online banking, merchant services, cyber security tips, and loan programs and application. The company was founded in January 1996 and is headquartered in Riverside, CA.

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