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

Provident Financial (NASDAQ:PROV) had its price target dropped by Piper Sandler from $17.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential downside of 0.25% from the company’s previous close.

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

Provident Financial Trading Up 0.3 %

PROV traded up $0.05 during trading on Wednesday, hitting $16.04. The company’s stock had a trading volume of 985 shares, compared to its average volume of 7,546. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The firm’s 50 day moving average price is $15.87 and its 200-day moving average price is $14.84. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $108.43 million, a PE ratio of 14.72 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released 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 return on equity of 5.78% and a net margin of 12.58%. During the same period in the previous year, the company earned $0.31 EPS. On average, analysts expect that Provident Financial will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC purchased a new stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned approximately 1.02% of Provident Financial 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.