Provident Bancorp (NASDAQ:PVBC) Releases Earnings Results, Beats Estimates By $0.24 EPS

Provident Bancorp (NASDAQ:PVBC) released its quarterly earnings data on Thursday. The bank reported $0.29 EPS for the quarter, beating the consensus estimate 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 PVBC opened at $11.40 on Friday. The firm has a fifty day simple moving average of $11.31 and a two-hundred day simple moving average of $10.90. The firm has a market cap of $202.12 million, a PE ratio of 35.63 and a beta of 0.48. 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 1-year low of $7.36 and a 1-year high of $12.32.

Analysts Set New Price Targets

Separately, Stephens raised their price target on shares of Provident Bancorp from $11.00 to $12.00 and gave the company an “equal weight” rating in a 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.