Piper Sandler Cuts Provident Financial (NASDAQ:PROV) Price Target to $16.00

Provident Financial (NASDAQ:PROV) had its price objective lowered by research analysts at Piper Sandler from $17.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 0.95% from the company’s previous close.

Separately, StockNews.com assumed coverage on shares of Provident Financial in a research note on Wednesday. They set a “hold” rating on the stock.

Provident Financial Trading Down 2.0 %

Shares of NASDAQ:PROV opened at $15.85 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. The company’s 50-day moving average price is $15.88 and its 200 day moving average price is $14.85. The company has a market cap of $107.15 million, a PE ratio of 14.54 and a beta of 0.38. Provident Financial has a fifty-two week low of $12.01 and a fifty-two week high of $16.70.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same period last year, the company earned $0.31 EPS. Sell-side analysts anticipate that Provident Financial will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,657 shares of the financial services provider’s stock after acquiring an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About Provident Financial

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.