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

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

Separately, StockNews.com assumed coverage on Provident Financial in a research report on Wednesday. They issued a “hold” rating on the stock.

Provident Financial Trading Up 1.2 %

Provident Financial stock opened at $16.18 on Wednesday. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The stock has a 50-day moving average price of $15.88 and a 200 day moving average price of $14.85. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $109.38 million, a price-to-earnings ratio of 14.84 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 EPS 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 quarter in the previous year, the company earned $0.31 earnings per share. Sell-side analysts anticipate that Provident Financial will post 1.05 EPS for the current year.

Provident Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.56 dividend on an annualized basis and a yield of 3.46%. Provident Financial’s payout ratio is 51.38%.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC increased its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the quarter. Empowered Funds LLC owned 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.