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

Provident Financial (NASDAQ:PROV) issued its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports. Provident Financial had a return on equity of 5.68% and a net margin of 12.53%. The firm had revenue of $15.38 million for the quarter, compared to the consensus estimate of $9.57 million. During the same period in the prior year, the business posted $0.26 earnings per share.

Provident Financial Stock Performance

NASDAQ PROV opened at $13.30 on Thursday. The stock has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $13.32. The firm has a market capitalization of $91.48 million, a P/E ratio of 12.79 and a beta of 0.39. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.40. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend 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 currently 53.85%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PROV. StockNews.com started coverage on Provident Financial in a research report on Monday. They issued a “hold” rating for the company. Piper Sandler lifted their price target on Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Provident Financial Company Profile

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.