Piper Sandler Raises Provident Financial (NASDAQ:PROV) Price Target to $14.00

Provident Financial (NASDAQ:PROV) had its target price increased by stock analysts at Piper Sandler from $13.00 to $14.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 10.06% from the company’s current price.

Separately, StockNews.com initiated coverage on shares of Provident Financial in a research note on Monday. They issued a “hold” rating for the company.

Provident Financial Trading Down 6.5 %

PROV opened at $12.72 on Wednesday. The firm has a market capitalization of $87.51 million, a P/E ratio of 12.23 and a beta of 0.39. The firm’s 50 day moving average is $12.63 and its 200-day moving average is $13.32. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $15.38 million during the quarter, compared to analyst estimates of $9.57 million. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Analysts expect that Provident Financial will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC boosted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.