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

Provident Financial (NASDAQ:PROV) had its price target lowered by Piper Sandler from $17.00 to $16.00 in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

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

Provident Financial Price Performance

Provident Financial stock opened at $16.04 on Wednesday. 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 business has a 50 day simple moving average of $15.89 and a 200-day simple moving average of $14.88. Provident Financial has a 12 month low of $12.01 and a 12 month high of $16.70. The stock has a market capitalization of $108.43 million, a PE ratio of 17.63 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Provident Financial had a return on equity of 4.80% and a net margin of 10.39%. During the same quarter in the previous year, the company posted $0.31 EPS. Equities analysts predict that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, February 13th. Provident Financial’s dividend payout ratio (DPR) is presently 61.54%.

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 its most recent disclosure with the SEC. The firm owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned 0.38% of Provident Financial worth $368,000 as of its most recent SEC filing. 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.