Provident Financial (NASDAQ:PROV) Price Target Raised to $16.00

Provident Financial (NASDAQ:PROV) had its price target raised by Piper Sandler from $15.00 to $16.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

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

Provident Financial Stock Down 0.7 %

PROV stock opened at $15.45 on Wednesday. The business has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $13.42. The company has a market cap of $104.60 million, a PE ratio of 14.17 and a beta of 0.40. Provident Financial has a 52 week low of $10.16 and a 52 week high of $15.91. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.84.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.77%. The firm had revenue of $14.97 million during the quarter, compared to analyst estimates of $9.74 million. During the same quarter last year, the business earned $0.25 EPS. Sell-side analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, November 14th. Provident Financial’s payout ratio is 51.38%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 as of its most recent SEC filing. Institutional investors own 71.34% 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 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.