Provident Financial plc (PFG) Rating Reiterated by Numis Securities Ltd

Provident Financial PLC

Provident Financial PLC (PFG.LN) confirmed Friday that it will not pay a full-year dividend for 2017, as it continues to implement a recovery plan for its home-collected credit business. The stock was purchased at an average price of GBX 3,163 ($40.63) per share, for a total transaction of £158.15 ($203.15). Over the last 30 and 90 trading days the company share price has decreased 37.5 points and decreased 1528.5 points respectively. Shore Capital reaffirmed a buy rating on shares of Provident Financial plc in a research report on Monday, August 28th. Barclays PLC lowered shares of Provident Financial plc to an "underweight" rating and set a GBX 584 ($7.68) price objective on the stock.in a report on Wednesday. Royal Bank Of Canada downgraded Provident Financial plc to a "sector performer" rating and reduced their target price for the stock from GBX 3,400 ($44.70) to GBX 2,650 ($34.84) in a research report on Monday, June 26th. Provident Financial plc now has a consensus rating of "Buy" and a consensus price target of GBX 3,131.82 ($40.23). Numis Securities Ltd reiterated a "not rated" rating and set a GBX 2,770 ($35.58) target price on shares of Provident Financial plc in a research report on Tuesday, April 4th. The stock now has an average rating of "Hold" and a consensus target price of GBX 2,283.92 ($30.03). Market capitalisation for LON:PFG is £1,186,569,711 GBP. Provident Financial PLC has recorded a 50-day average of 813.42GBX and a two hundred day average of 2,233.15GBX. The 1 year high for the share price is 3295.45 GBX while the 52 week low is 426.6 GBX.

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Crisis-hit lender Provident has revealed its plans to stabilise the business and improve its financial performance, though the group still stands to make a significant loss.

The company said on Friday that it will now move from having two United Kingdom divisions to four at its home credit business, increasing the number of regional managers, and employing at least 300 part-time staff who used to work as self-employed agents.

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