Provident Bancorp (NASDAQ:PVBC) Announces 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 return on equity of 2.36% and a net margin of 5.53%.

Provident Bancorp Price Performance

Shares of NASDAQ:PVBC traded up $0.01 on Thursday, hitting $10.92. The company had a trading volume of 18,568 shares, compared to its average volume of 22,741. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. Provident Bancorp has a 52-week low of $7.36 and a 52-week high of $12.32. The business has a 50 day moving average of $11.30 and a 200 day moving average of $10.90. The company has a market cap of $193.61 million, a PE ratio of 34.13 and a beta of 0.48.

Analysts Set New Price Targets

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

About Provident Bancorp

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.