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 report published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

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

Provident Financial Trading Up 1.2 %

PROV opened at $16.18 on Wednesday. Provident Financial has a 12 month low of $12.01 and a 12 month high of $16.70. The stock has a fifty day moving average price of $15.88 and a 200-day moving average price of $14.85. The firm has a market cap of $109.38 million, a price-to-earnings ratio of 14.84 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.

Provident Financial (NASDAQ:PROV) last announced its earnings results 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 5.78% and a net margin of 12.58%. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, equities research analysts anticipate that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, February 13th. Provident Financial’s dividend payout ratio is currently 51.38%.

Institutional Investors 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 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,964 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the period. Empowered Funds LLC owned approximately 0.40% of Provident Financial worth $429,000 at the end of the most recent reporting period. 71.34% of the stock is currently owned by institutional investors.

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.