Provident Bancorp (NASDAQ:PVBC) Issues Earnings Results

Provident Bancorp (NASDAQ:PVBC) released its quarterly earnings results on Thursday. The bank reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 Stock Up 4.4 %

PVBC stock opened at $11.40 on Friday. The business’s 50-day moving average price is $11.31 and its 200-day moving average price is $10.90. The stock has a market cap of $202.12 million, a P/E ratio of 35.63 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. Provident Bancorp has a twelve month low of $7.36 and a twelve month high of $12.32.

Analyst Ratings Changes

Separately, Stephens upped their price objective on Provident Bancorp from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note 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.