Raymond James initiated coverage of Provident Financial (PFS) with a Strong Buy rating and $21 price target Provident is a well-run franchise that continues to steadily enhance its franchise and capture market share due to a strong balance sheet and liquidity, the analyst tells investors in a research note. The firm expects the bank will benefit from its recent acquisition of Lakeland, saying the deal allows it to make additional investments to further grow the franchise and drive operating leverage.
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