Analysts Are Revising Their Forecasts Provident Bancorp (NASDAQ:PVBC)

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Earnings results for Provident Bancorp (NASDAQ:PVBC)

Provident Bancorp, Inc. is estimated to report earnings on 10/22/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.18. The reported EPS for the same quarter last year was $0.37.

Provident Bancorp last released its earnings results on July 17th, 2020. The bank reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $13.74 million for the quarter. Provident Bancorp has generated $0.60 earnings per share over the last year and currently has a price-to-earnings ratio of 11.4. Provident Bancorp has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, October 22nd, 2020 based off prior year’s report dates.

Analyst Opinion on Provident Bancorp (NASDAQ:PVBC)

2 Wall Street analysts have issued ratings and price targets for Provident Bancorp in the last 12 months. Their average twelve-month price target is $12.00, predicting that the stock has a possible upside of 38.25%. The high price target for PVBC is $12.00 and the low price target for PVBC is $12.00. There are currently 2 hold ratings for the stock, resulting in a consensus rating of “Hold.”

Provident Bancorp has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $12.00, Provident Bancorp has a forecasted upside of 38.2% from its current price of $8.68. Provident Bancorp has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Provident Bancorp (NASDAQ:PVBC)

Provident Bancorp has a dividend yield of 1.42%, which is in the bottom 25% of all stocks that pay dividends. Provident Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of Provident Bancorp is 20.00%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Provident Bancorp will have a dividend payout ratio of 21.43% next year. This indicates that Provident Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: Provident Bancorp (NASDAQ:PVBC)

In the past three months, Provident Bancorp insiders have not sold or bought any company stock. Only 6.23% of the stock of Provident Bancorp is held by insiders. 39.72% of the stock of Provident Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Provident Bancorp (NASDAQ:PVBC

Earnings for Provident Bancorp are expected to grow by 1.82% in the coming year, from $0.55 to $0.56 per share. The P/E ratio of Provident Bancorp is 11.42, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.48. The P/E ratio of Provident Bancorp is 11.42, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.17. Provident Bancorp has a P/B Ratio of 1.35. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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