Provident Bancorp (NASDAQ:PVBC) Releases Quarterly Earnings Results

Provident Bancorp (NASDAQ:PVBC) issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.24 earnings per share for the quarter, Bloomberg Earnings reports. The business had revenue of $11.20 million for the quarter. Provident Bancorp had a return on equity of 7.77% and a net margin of 19.46%.

Shares of PVBC traded up $0.34 on Friday, reaching $23.35. 1,272 shares of the stock traded hands, compared to its average volume of 2,211. The stock has a market cap of $224.86 million, a PE ratio of 22.56 and a beta of 0.73. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.54. Provident Bancorp has a 12 month low of $19.81 and a 12 month high of $30.80.

An institutional investor recently raised its position in Provident Bancorp stock. Geode Capital Management LLC increased its position in shares of Provident Bancorp Inc (NASDAQ:PVBC) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,274 shares of the bank’s stock after purchasing an additional 1,593 shares during the period. Geode Capital Management LLC owned about 0.82% of Provident Bancorp worth $1,718,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.74% of the company’s stock.

Separately, ValuEngine raised Provident Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 26th.

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Provident Bancorp Company Profile

Provident Bancorp, Inc is a Massachusetts corporation that was formed in 2011 by The Provident Bank to be its holding company. Approximately 52.1% of Provident Bancorp, Inc outstanding shares are owned by Provident Bancorp, a Massachusetts corporation and a mutual holding company. The Provident Bank, a subsidiary of Provident Bancorp, Inc, is an innovative, commercial bank that finds solutions for business and private clients.

Further Reading: Mutual Funds

Earnings History for Provident Bancorp (NASDAQ:PVBC)

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