Provident Financial price target raised to $21 from $18 at RBC Capital

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.