Provident Financial price target raised to $24 from $22 at DA Davidson

DA Davidson raised the firm’s price target on Provident Financial (PFS) to $24 from $22 and keeps a Buy rating on the shares. The company’s Q2 results profiled an expanding net interest margin, along with solid Q2 loan growth, the analyst tells investors in a research note. The firm adds that Provident’s pre-provision net revenue was in line on better net interest income and Ffees offsetting weaker operating expense, with stronger growth driving shares.