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

Equities researchers at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV – Get Rating) in a note issued to investors on Sunday. The brokerage set 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 Thursday, May 25th.

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Provident Financial Trading Up 1.0 %

NASDAQ PROV opened at $12.27 on Friday. The stock has a market capitalization of $86.17 million, a P/E ratio of 9.51 and a beta of 0.48. Provident Financial has a 52-week low of $11.61 and a 52-week high of $15.18. The firm has a 50-day moving average price of $12.57 and a 200 day moving average price of $13.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.58.

Provident Financial (NASDAQ:PROV – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Provident Financial had a return on equity of 7.16% and a net margin of 19.93%. The firm had revenue of $10.38 million for the quarter, compared to analysts’ expectations of $10.60 million.

Institutional Trading of Provident Financial

Several large investors have recently modified their holdings of the business. M3F Inc. grew its position 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 grew 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 purchasing an additional 10,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Provident Financial by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock worth $5,826,000 after acquiring an additional 8,604 shares during the last quarter. Talbot Financial LLC acquired a new stake in Provident Financial during the fourth quarter worth approximately $852,000. Finally, Federated Hermes Inc. boosted its position in Provident Financial by 7.9% during the first quarter. Federated Hermes Inc. now owns 30,459 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,234 shares during the last quarter. 52.91% of the stock is currently owned by institutional investors and hedge funds.

About Provident Financial

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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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