Provident Financial (PROV) Downgraded by ValuEngine

ValuEngine downgraded shares of Provident Financial (NASDAQ:PROV) from a buy rating to a hold rating in a report released on Monday, April 1st, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Hovde Group raised shares of Provident Financial from a market perform rating to an outperform rating and raised their price objective for the stock from $19.00 to $23.00 in a research note on Wednesday, March 20th. TheStreet upgraded shares of Provident Financial from a c+ rating to a b- rating in a research report on Wednesday, February 20th. Finally, FIG Partners upgraded shares of Provident Financial from a market perform rating to an outperform rating and set a $21.00 target price for the company in a research report on Tuesday, February 5th.

Shares of Provident Financial stock traded up $0.25 on Monday, hitting $20.00. The company had a trading volume of 2,351 shares, compared to its average volume of 6,804. The stock has a market capitalization of $150.20 million, a PE ratio of 28.57 and a beta of 0.52. Provident Financial has a 52 week low of $14.67 and a 52 week high of $20.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.12 and a quick ratio of 1.06.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The firm had revenue of $13.43 million during the quarter, compared to analysts’ expectations of $13.50 million. Provident Financial had a net margin of 11.15% and a return on equity of 5.70%.

In other news, COO Donavon P. Ternes sold 5,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.05, for a total transaction of $100,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.41% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Provident Financial by 77.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,836 shares of the financial services provider’s stock valued at $162,000 after buying an additional 3,860 shares during the last quarter. M3F Inc. grew its stake in Provident Financial by 8.5% in the 4th quarter. M3F Inc. now owns 442,557 shares of the financial services provider’s stock valued at $6,860,000 after buying an additional 34,554 shares during the last quarter. Beacon Pointe Wealth Advisors LLC acquired a new position in Provident Financial in the 4th quarter valued at $227,000. Maltese Capital Management LLC acquired a new position in Provident Financial in the 3rd quarter valued at $458,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Provident Financial in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 55.27% of the company’s stock.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community and mortgage banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. It operates through two segments, Provident Bank and Provident Bank Mortgage.

Read More: Return on Investment (ROI)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Provident Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial and related companies with MarketBeat.com's FREE daily email newsletter.