RBC Capital analyst Jon Arfstrom raised the firm’s price target on Provident Financial to $19 from $18 and keeps an Outperform rating on the shares. The company’s Q1 core results were clean and stable, with revenue trends reflecting modest margin pressure and stronger fees, the analyst tells investors in a research note. Provident’s core expense trends were also “solid and controlled” this quarter, while its credit quality metrics were stable and trends continue to be quite healthy, the firm added.
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