The stock of Provident Bancorp Inc. (NASDAQ:PVBC) last traded at $8.44, up 1.20% from the previous session.
Data from the available sources indicates that Provident Bancorp Inc. (NASDAQ:PVBC) is covered by 1 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $12.00, we find $12.00. Given the previous closing price of $8.34, this indicates a potential upside of 43.88 percent. PVBC stock price is now 8.70% away from the 50-day moving average and -35.62% away from the 200-day moving average. The market capitalization of the company currently stands at $143.90M.
In total, 1 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $12.00 as their price target over the next twelve months.
With the price target reduced from $18 to $12, Stephens Downgraded its rating from Overweight to Equal-Weight for Provident Bancorp Inc. (NASDAQ: PVBC). On March 29, 2022, Stephens recently initiated its ‘Overweight’ rating on the stock quoting a target price of $20, while ‘Piper Sandler’ rates the stock as ‘Overweight’.
Insiders disposed of 73,919 shares of company stock worth roughly $0.62 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PVBC stock. A new stake in Provident Bancorp Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $14,130,000. PALLAS CAPITAL ADVISORS LLC invested $246,000 in shares of PVBC during the first quarter. In the first quarter, NVEST FINANCIAL, LLC acquired a new stake in Provident Bancorp Inc. valued at approximately $191,000. BNP PARIBAS ARBITRAGE, SNC acquired a new stake in PVBC for approximately $33,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in PVBC valued at around $16,000 in the second quarter. In total, there are 105 active investors with 44.10% ownership of the company’s stock.
With an opening price of $8.36 on Monday morning, Provident Bancorp Inc. (NASDAQ: PVBC) set off the trading day. During the past 12 months, Provident Bancorp Inc. has had a low of $6.10 and a high of $18.91. The fifty day moving average price for PVBC is $7.76 and a two-hundred day moving average price translates $13.11 for the stock.
The latest earnings results from Provident Bancorp Inc. (NASDAQ: PVBC) was released for Jun, 2022. According to the Banks – Regional Company, earnings per share came in at $0.33, beating analysts’ expectations of $0.27 by 0.06. This compares to $0.13 EPS in the same period last year. The net profit margin was -27.30% and return on equity was -9.00% for PVBC. The company reported revenue of $12.73 million for the quarter, compared to $10.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.68 percent. For the current quarter, analysts expect PVBC to generate $19.5M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/26/2022. Investors who held shares on 08/12/2022 were paid a $0.04 dividend. On an annualized basis, this represents a $0.16 dividend and a 1.90% percent yield. There was an ex-dividend date of 08/11/2022 for this dividend.
Provident Bancorp Inc.(PVBC) Company Profile
Provident Bancorp, Inc. operates as the bank holding company for The Provident Bank that provides various financial services to individuals and small businesses in the United States. It offers checking, term certificate, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit. The company also provides commercial real estate, multi-family residential real estate, commercial business, construction and land development, mortgage warehouse, one- to four-family residential, and consumer loans, as well as home equity loans and lines of credit; and invests in securities, and state and municipal bonds. As of December 31, 2021, it operated through its main office and six branch offices located in Amesbury and Newburyport, Massachusetts; and Bedford, Exeter, Portsmouth, and Seabrook, New Hampshire, as well as two loan production offices located in Boston, Massachusetts, and Ponte Vedra, Florida. The company was founded in 1828 and is headquartered in Amesbury, Massachusetts.