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Earnings
Provident Financial reports Q1 EPS 20c, consensus 24c » 06:24
10/28/20
10/28
06:24
10/28/20
06:24
PROV

Provident Financial

$13.59 /

+0.04 (+0.30%)

Reports Q1 provision for…

Reports Q1 provision for loan losses of $220K vs. ($181K) during the same period of FY20 and lower than $448K recorded in 4Q20, sequential quarter. The provision for loan losses in the last three quarters was primarily due to a qualitative component established in allowance for loan losses methodology in response to the COVID-19 pandemic and its continued and forecasted adverse economic impact. "To date, Provident has successfully navigated the weak economic conditions resulting from the COVID-19 pandemic. The company was well-positioned for an economic downturn before the pandemic struck and our employees have been exceptional in overcoming the operational challenges subsequent to its onset," said CEO Craig Blunden. "We will continue to operate the Company in a prudent manner and respond as required to the elevated risks in the current operating environment".

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PROV Provident Financial
$13.59 /

+0.04 (+0.30%)

PROV Provident Financial
$13.59 /

+0.04 (+0.30%)

08/27/20 JPMorgan
Provident Financial price target raised to 240 GBp from 200 GBp at JPMorgan
05/05/20
Fly Intel: Top five analyst upgrades
05/04/20 Piper Sandler
Provident Financial upgraded to Overweight from Neutral at Piper Sandler
02/11/20
Fly Intel: Top five analyst initiations
PROV Provident Financial
$13.59 /

+0.04 (+0.30%)

Over a quarter ago
Recommendations
Provident Financial price target raised to 240 GBp from 200 GBp at JPMorgan » 12:52
08/27/20
08/27
12:52
08/27/20
12:52
PROV

Provident Financial

$12.24 /

+0.06 (+0.49%)

JPMorgan analyst Gurjit…

JPMorgan analyst Gurjit Kambo raised the firm's price target on Provident Financial to 240 GBp from 200 GBp and keeps a Neutral rating on the shares.

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PROV Provident Financial
$12.24 /

+0.06 (+0.49%)

PROV Provident Financial
$12.24 /

+0.06 (+0.49%)

05/05/20
Fly Intel: Top five analyst upgrades
05/04/20 Piper Sandler
Provident Financial upgraded to Overweight from Neutral at Piper Sandler
02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
PROV Provident Financial
$12.24 /

+0.06 (+0.49%)

Earnings
Provident Financial reports Q4 EPS 21c, consensus 16c » 06:11
07/28/20
07/28
06:11
07/28/20
06:11
PROV

Provident Financial

$12.17 /

+ (+0.00%)

The net interest margin…

The net interest margin during the fourth quarter decreased 57 basis points to 2.95% from 3.52% in the same quarter last year, primarily due to a decrease in the average yield of interest-earning assets, partly offset by a much smaller decrease in the average cost of interest-bearing liabilities.

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PROV Provident Financial
$12.17 /

+ (+0.00%)

PROV Provident Financial
$12.17 /

+ (+0.00%)

05/05/20
Fly Intel: Top five analyst upgrades
05/04/20 Piper Sandler
Provident Financial upgraded to Overweight from Neutral at Piper Sandler
02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
PROV Provident Financial
$12.17 /

+ (+0.00%)

Upgrade
Fly Intel: Top five analyst upgrades » 10:03
05/05/20
05/05
10:03
05/05/20
10:03
LB

L Brands

$12.03 /

-0.025 (-0.21%)

, HOG

Harley-Davidson

$21.50 /

+1.19 (+5.86%)

, CUTR

Cutera

$15.18 /

+2.27 (+17.58%)

, PROV

Provident Financial

$13.05 /

+0.55 (+4.40%)

, CHGG

Chegg

$54.58 /

+10.69 (+24.36%)

Catch up on today's…

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. L Brands (LB) upgraded to Outperform from Market Perform at BMO Capital with analyst Simeon Siegel saying with the Sycamore Partners deal "extinguished" the noise around the stock will dissipate and it will become harder to ignore L Brands' underlying fundamental value. 2. Harley-Davidson (HOG) upgraded to Buy from Hold at Argus with analyst David Coleman saying he has a positive view of the company's new strategic plan. 3. Cutera (CUTR) upgraded to Buy from Hold at Stifel with analyst Jonathan Block saying he sees momentum building into 2021 and beyond "despite a stock still hovering near COVID-19 lows." 4. Provident Financial (PROV) upgraded to Overweight from Neutral at Piper Sandler with analyst Matthew Clark saying given the company's lower credit risk profile, its discount to tangible book value should narrow. 5. Chegg (CHGG) upgraded to Outperform from Market Perform at Raymond James with analyst Aaron Kessler citing accelerating Chegg Study and Chegg Services growth as a result of distance learning as more students seek help online leading to expected 45%+ growth in Q2 and earlier than expected uptake from Chegg Study Pack which drives higher bundled pricing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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LB L Brands
$12.03 /

-0.025 (-0.21%)

05/05/20 B. Riley Securities
B. Riley FBR remains buyer of L Brands with $23 price target
05/05/20 Deutsche Bank
L Brands price target lowered to $16 from $24 at Deutsche Bank
05/05/20 BMO Capital
BMO upgrades L Brands after Sycamore deal ends, sees 50%-70% upside
05/05/20 BMO Capital
L Brands upgraded to Outperform from Market Perform at BMO Capital
HOG Harley-Davidson
$21.50 /

+1.19 (+5.86%)

05/05/20 Argus
Argus upgrades Harley-Davidson to Buy on new strategic plan
05/05/20 Argus
Harley-Davidson upgraded to Buy from Hold at Argus
04/23/20 BMO Capital
Harley-Davidson price target lowered to $20 from $37 at BMO Capital
04/06/20 Argus
Harley-Davidson downgraded to Hold from Buy at Argus
CUTR Cutera
$15.18 /

+2.27 (+17.58%)

05/05/20 Stifel
Cutera upgraded to Buy from Hold at Stifel
04/22/20 Piper Sandler
Cutera initiated with an Overweight at Piper Sandler
01/21/20 Stephens
Cutera seeing turnover in sales team, says Stephens
11/08/19 Stephens
Cutera price target raised to $45 from $35 at Stephens
PROV Provident Financial
$13.05 /

+0.55 (+4.40%)

05/04/20 Piper Sandler
Provident Financial upgraded to Overweight from Neutral at Piper Sandler
02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
CHGG Chegg
$54.58 /

+10.69 (+24.36%)

05/05/20 Barrington
Chegg price target raised to $60 from $50 at Barrington
05/05/20 Craig-Hallum
Chegg price target raised to $65 from $55 at Craig-Hallum
05/05/20 Northland
Chegg price target raised to $60 from $44 at Northland
05/05/20 Morgan Stanley
Chegg price target raised to $56 from $43 at Morgan Stanley
Upgrade
Provident Financial upgraded to Overweight from Neutral at Piper Sandler » 16:32
05/04/20
05/04
16:32
05/04/20
16:32
PROV

Provident Financial

$12.50 /

+ (+0.00%)

Piper Sandler analyst…

Piper Sandler analyst Matthew Clark upgraded Provident Financial to Overweight from Neutral with an unchanged price target of $16. Given the company's lower credit risk profile, its discount to tangible book value should narrow, Clark tells investors in a research note.

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PROV Provident Financial
$12.50 /

+ (+0.00%)

02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
Hot Stocks
Provident Financial board authorizes buyback of up to 5% of common stock » 18:52
04/30/20
04/30
18:52
04/30/20
18:52
PROV

Provident Financial

$13.26 /

-0.67 (-4.81%)

Provident Financial…

Provident Financial announced that the board authorized the repurchase of up to 5% of the company's common stock, approximately 371,815 shares.

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PROV Provident Financial
$13.26 /

-0.67 (-4.81%)

02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
Earnings
Provident Financial reports Q3 EPS 15c, consensus 28c » 06:07
04/28/20
04/28
06:07
04/28/20
06:07
PROV

Provident Financial

$12.99 /

+0.735 (+6.00%)

Reports Q1 provision for…

Reports Q1 provision for loan losses of $874,000, up from only $4,000 recorded during the same period of FY19 and up from the recovery of $22,000 recorded in the Q2. The increase in the provision for loan losses was primarily due to a qualitative component established in our allowance for loan losses methodology in response to the COVID-19 pandemic which has negatively impacted the current economic environment. "Like all companies, we began to see the early implications of the COVID-19 pandemic in the March 2020 quarter. As a result, we increased our provision for loan losses, we tightened our underwriting criteria for new loan originations and purchases, and we began developing programs to help those customers who may be impacted by this event," said the company. "Nonetheless, we remain profitable, strongly capitalized and well-positioned to serve the communities of the Inland Empire. We have suspended foreclosure sales, offered late fee waivers and implemented a payment forbearance plan, among other actions. Our branches are open and operating with normal branch hours. We've implemented social distancing recommendations, sanitizing and cleaning procedures, and are generally operating under state, county, and city recommendations for essential service providers."

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PROV Provident Financial
$12.99 /

+0.735 (+6.00%)

02/11/20
Fly Intel: Top five analyst initiations
02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
04/30/19 Fig Partners
Provident Financial downgraded to Market Perform from Outperform at Fig Partners
Initiation
Fly Intel: Top five analyst initiations » 10:12
02/11/20
02/11
10:12
02/11/20
10:12
COP

ConocoPhillips

$58.58 /

+0.7 (+1.21%)

, RBS

RBS

$5.80 /

+0.08 (+1.40%)

, IMAB

I-MAB

$11.06 /

+ (+0.00%)

, PROV

Provident Financial

$22.12 /

+ (+0.00%)

, SNY

Sanofi

$51.06 /

-0.14 (-0.27%)

Catch up on today's…

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. ConocoPhillips (COP) initiated with an Overweight at Capital One. 2. RBS (RBS) reinstated with an Outperform at Credit Suisse. 3. I-MAB (IMAB) initiated with a Buy at Jefferies. 4. Provident Financial (PROV) assumed with a Neutral at Piper Sandler. 5. Sanofi (SNY) initiated with a Market Perform at SVB Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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COP ConocoPhillips
$58.58 /

+0.7 (+1.21%)

02/11/20 Capital One
ConocoPhillips initiated with an Overweight at Capital One
01/23/20 Scotiabank
ConocoPhillips downgraded to Sector Perform from Outperform at Scotiabank
01/15/20
Fly Intel: Top five analyst initiations
01/14/20 Baird
ConocoPhillips initiated with an Outperform at Baird
RBS RBS
$5.80 /

+0.08 (+1.40%)

02/11/20 Credit Suisse
RBS reinstated with an Outperform at Credit Suisse
01/14/20 Barclays
RBS downgraded to Underweight from Equal Weight at Barclays
12/17/19 Citi
RBS downgraded to Neutral from Buy at Citi
12/16/19 Morgan Stanley
RBS upgraded to Overweight from Equal Weight at Morgan Stanley
IMAB I-MAB
$11.06 /

+ (+0.00%)

02/11/20 Jefferies
Jefferies starts I-MAB with Buy rating, $16 price target
02/11/20 Jefferies
I-MAB initiated with a Buy at Jefferies
PROV Provident Financial
$22.12 /

+ (+0.00%)

02/11/20 Piper Sandler
Provident Financial assumed with a Neutral at Piper Sandler
01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
04/30/19 Fig Partners
Provident Financial downgraded to Market Perform from Outperform at Fig Partners
SNY Sanofi
$51.06 /

-0.14 (-0.27%)

02/11/20 SVB Leerink
Sanofi initiated with a Market Perform at SVB Leerink
02/06/20 H.C. Wainwright
Principia Biopharma price target raised to $70 from $62 at H.C. Wainwright
01/26/20 Goldman Sachs
Denali Therapeutics upgraded to Buy from Neutral at Goldman Sachs
01/22/20 Liberum
Sanofi downgraded to Hold from Buy at Liberum (earlier)
Initiation
Provident Financial assumed with a Neutral at Piper Sandler » 06:10
02/11/20
02/11
06:10
02/11/20
06:10
PROV

Provident Financial

$22.12 /

+ (+0.00%)

Piper Sandler analyst…

Piper Sandler analyst Matthew Clark assumed coverage of Provident Financial with a Neutral rating and $23 price target. The analyst cites valuation for the Neutral rating, saying the market is paying up for the company's earnings potential after the recent divestiture of its more volatile For Sale SFR business that was a drag on profitability.

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PROV Provident Financial
$22.12 /

+ (+0.00%)

01/29/20 Janney Montgomery Scott
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott
04/30/19 Fig Partners
Provident Financial downgraded to Market Perform from Outperform at Fig Partners
Upgrade
Provident Financial upgraded to Buy from Neutral at Janney Montgomery Scott » 05:37
01/29/20
01/29
05:37
01/29/20
05:37
PROV

Provident Financial

$22.20 /

+0.21 (+0.95%)

Janney Montgomery Scott…

Janney Montgomery Scott analyst Timothy Coffey upgraded Provident Financial to Buy from Neutral with a $24.50 price target.

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PROV Provident Financial
$22.20 /

+0.21 (+0.95%)

04/30/19 Fig Partners
Provident Financial downgraded to Market Perform from Outperform at Fig Partners
02/05/19 Fig Partners
Provident Financial upgraded to Outperform from Market Perform at Fig Partners

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