Provident Financial (NASDAQ:PROV) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Provident Financial (NASDAQ:PROV) posted its quarterly earnings data on Monday. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05, Zacks reports. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. The firm had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $9.57 million. During the same quarter last year, the company posted $0.26 EPS.

Provident Financial Stock Up 4.6 %

Shares of Provident Financial stock traded up $0.58 during trading on Thursday, hitting $13.30. 10,335 shares of the stock were exchanged, compared to its average volume of 9,247. The stock has a market cap of $91.48 million, a price-to-earnings ratio of 12.79 and a beta of 0.39. The firm’s 50-day moving average price is $12.63 and its 200 day moving average price is $13.32. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.21 and a quick ratio of 1.21. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40.

Provident Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.14 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.21%. Provident Financial’s payout ratio is 53.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com began coverage on Provident Financial in a report on Monday. They set a “hold” rating for the company. Piper Sandler lifted their price objective on shares of Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday.

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.