Provident Financial (NASDAQ:PROV – Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06, Zacks reports. Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.
Provident Financial Stock Performance
NASDAQ PROV opened at $17.26 on Tuesday. The stock’s fifty day moving average is $17.10 and its two-hundred day moving average is $16.65. The firm has a market capitalization of $107.88 million, a P/E ratio of 18.76 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20. Provident Financial has a fifty-two week low of $14.95 and a fifty-two week high of $17.42.
Provident Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.56 dividend on an annualized basis and a yield of 3.2%. Provident Financial’s payout ratio is 60.87%.
Insider Activity
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of PROV. Fourthstone LLC increased its position in Provident Financial by 52.6% during the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Provident Financial by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 1,834 shares during the period. Empowered Funds LLC boosted its holdings in Provident Financial by 6.2% in the 4th quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 1,834 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after buying an additional 3,459 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in shares of Provident Financial in the 3rd quarter valued at approximately $273,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on PROV shares. Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Friday, July 17th. Zacks Research raised Provident Financial to a “hold” rating in a research note on Monday, June 29th. Finally, Piper Sandler began coverage on Provident Financial in a research report on Friday, June 26th. They set a “neutral” rating and a $17.00 price target for the company. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Provident Financial currently has a consensus rating of “Hold” and an average target price of $17.00.
View Our Latest Research Report on PROV
About Provident Financial
Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.
The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.
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