Provident Financial (NASDAQ:PROV) Price Target Cut to $16.00 by Analysts at Piper Sandler

Provident Financial (NASDAQ:PROV - Get Free Report) had its price target decreased by analysts at Piper Sandler from $17.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target points to a potential upside of 0.95% from the stock's previous close.

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

Provident Financial Price Performance

Shares of NASDAQ PROV traded down $0.33 during mid-day trading on Wednesday, reaching $15.85. 5,439 shares of the company traded hands, compared to its average volume of 7,597. The stock has a fifty day simple moving average of $15.88 and a 200-day simple moving average of $14.85. Provident Financial has a fifty-two week low of $12.01 and a fifty-two week high of $16.70. The firm has a market cap of $107.15 million, a PE ratio of 14.54 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (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 period last year, the firm earned $0.31 earnings per share. Equities research analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC grew its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,964 shares of the financial services provider's stock after purchasing an additional 1,307 shares during the quarter. Empowered Funds LLC owned about 0.40% of Provident Financial worth $429,000 as of its most recent filing with the SEC. 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.