Stock Rating Downgrade
The Value Trend Rating for Provident Financial Holdings Inc (NASDAQ: PROV) weakened recently from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
On 8/9/24, Provident Financial Holdings Inc (NASDAQ: PROV) stock declined slightly by -0.3%, closing at $13.21. However, this decline was accompanied by exceptionally low trading volume at 15% of normal. The stock has risen 1.5% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
PROV’s future returns on capital are forecasted to be in line with the cost of capital. Accordingly, the company is expected to be Value Creation neutral.
Provident Financial Holdings has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Provident Financial Holdings has a slightly positive Appreciation Score of 66 but a slightly negative Power Rating of 34, producing the Neutral Value Trend Rating.
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