RBC Capital analyst Jon Arfstrom raised the firm’s price target on Provident Financial to $21 from $18 and keeps an Outperform rating on the shares. The company’s reported results reflected the Lakeland merger impact as its core EPS of 46c topped estimates, the analyst tells investors in a research note. Provident’s core fundamental trends were solid with strong reported margin expansion, manageable expenses, and healthy credit quality, the firm added.
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Read More on PFS:
- Provident Financial Announces Quarterly Cash Dividend
- Provident Financial Services Unveils Q2 Earnings Insights
- Provident Financial reports Q2 EPS with items (11c), consensus 35c
- PFS Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Provident Financial price target lowered to $18 from $19 at RBC Capital
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