Provident Financial (NASDAQ:PROV) Given New $16.00 Price Target at Piper Sandler

Provident Financial (NASDAQ:PROV) had its target price boosted by Piper Sandler from $15.00 to $16.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

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

Provident Financial Trading Up 2.5 %

NASDAQ:PROV opened at $15.85 on Wednesday. The company has a 50-day moving average price of $14.52 and a 200-day moving average price of $13.39. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84. The stock has a market cap of $107.30 million, a price-to-earnings ratio of 14.95 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a net margin of 12.53% and a return on equity of 5.67%. The firm had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. During the same period last year, the company posted $0.25 EPS. Equities analysts predict that Provident Financial will post 1 EPS for the current year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.53%. Provident Financial’s payout ratio is 52.83%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC raised its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. 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.