Provident Bancorp (NASDAQ:PVBC) Announces Quarterly Earnings Results

Provident Bancorp (NASDAQ:PVBC) posted its earnings results on Thursday. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.24, Zacks reports. Provident Bancorp had a net margin of 5.53% and a return on equity of 2.36%.

Provident Bancorp Trading Up 0.1 %

Provident Bancorp stock traded up $0.01 during trading hours on Thursday, reaching $10.92. 18,568 shares of the company’s stock were exchanged, compared to its average volume of 22,741. The firm has a market capitalization of $193.61 million, a PE ratio of 34.13 and a beta of 0.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm’s 50 day simple moving average is $11.30 and its 200 day simple moving average is $10.90. Provident Bancorp has a twelve month low of $7.36 and a twelve month high of $12.32.

Analyst Upgrades and Downgrades

Separately, Stephens increased their target price on Provident Bancorp from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th.

Provident Bancorp Company Profile

Provident Bancorp, Inc is a Maryland corporation that was formed in 2019 to be the successor corporation to Provident Bancorp, Inc, a Massachusetts corporation, and the holding company for The Provident Bank. The Provident Bank, a subsidiary of Provident Bancorp, Inc is an innovative, commercial bank that finds solutions for its business and private clients.