Piper Sandler Has Lowered Expectations for Provident Financial (NASDAQ:PROV) Stock Price

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

Separately, StockNews.com initiated coverage on Provident Financial in a research note on Wednesday. They set a “hold” rating for the company.

Provident Financial Price Performance

PROV opened at $15.85 on Wednesday. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The firm has a market cap of $107.15 million, a price-to-earnings ratio of 14.54 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The company has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $14.85.

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

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 about 0.38% of Provident Financial worth $368,000 at the end of the most recent reporting period. 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.