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

Provident Financial (NASDAQ:PROV) had its target price upped by Piper Sandler from $13.00 to $14.00 in a research note issued to investors 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 report on Monday, July 29th. They issued a hold rating on the stock.

Provident Financial Price Performance

NASDAQ PROV opened at $13.15 on Wednesday. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The stock has a market capitalization of $90.47 million, a PE ratio of 12.64 and a beta of 0.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average price of $12.66 and a two-hundred day moving average price of $13.32.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. The company had revenue of $15.38 million for the quarter, compared to analyst estimates of $9.57 million. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, equities analysts predict that Provident Financial will post 1 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, August 15th. Provident Financial’s payout ratio is currently 53.85%.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC boosted its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.