Piper Sandler Cuts Provident Financial (NASDAQ:PROV) Price Target to $14.00

Provident Financial (NASDAQ:PROV) had its price target trimmed by Piper Sandler from $15.00 to $14.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, StockNews.com started coverage on Provident Financial in a research report on Wednesday, April 24th. They set a hold rating for the company.

Provident Financial Price Performance

NASDAQ:PROV opened at $12.85 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The stock’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $13.01. The firm has a market capitalization of $89.05 million, a P/E ratio of 12.36 and a beta of 0.40.

Provident Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Wednesday, May 15th. Provident Financial’s dividend payout ratio (DPR) is 53.85%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. lifted its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the quarter. Federated Hermes Inc. owned 0.37% of Provident Financial worth $338,000 at the end of the most recent quarter. Institutional investors own 71.34% of the company’s stock.

Provident Financial Company Profile

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.