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Provident Bancorp

Nasdaq:PVBC
Snowflake Description

Flawless balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PVBC
Nasdaq
$258M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Provident Bancorp, Inc. operates as a holding company for The Provident Bank that provides various financial services to individuals and small businesses in the United States. The last earnings update was 41 days ago. More info.


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PVBC Share Price and Events
7 Day Returns
-0.5%
NasdaqCM:PVBC
-0.4%
US Mortgage
0.6%
US Market
1 Year Returns
0.4%
NasdaqCM:PVBC
2.2%
US Mortgage
4.1%
US Market
PVBC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Provident Bancorp (PVBC) -0.5% 2.6% 20.9% 0.4% 74.2% -
US Mortgage -0.4% 1.8% 1.2% 2.2% 32.7% 44.9%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • PVBC underperformed the Mortgage industry which returned 2.2% over the past year.
  • PVBC underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
PVBC
Industry
5yr Volatility vs Market

PVBC Value

 Is Provident Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Provident Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Provident Bancorp.

NasdaqCM:PVBC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $12.56 * 6.8%
$0.86
Book Value of Equity per Share Median Book Value from the past 5 years. $12.56
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:PVBC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.862 (1 + (1- 21%) (32.52%))
1.056
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.056 * 5.96%)
9.02%

Discounted Cash Flow Calculation for NasdaqCM:PVBC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Provident Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:PVBC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.8% – 9.02%) * $12.56)
$-0.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.28 / (9.02% - 2.73%)
$-4.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $12.56 + $-4.39
$8.17
NasdaqCM:PVBC Discount to Share Price
Calculation Result
Value per share (USD) From above. $8.17
Current discount Discount to share price of $27.81
= -1 x ($27.81 - $8.17) / $8.17
-240.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Provident Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Provident Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Provident Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:PVBC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.03
NasdaqCM:PVBC Share Price ** NasdaqCM (2019-07-17) in USD $27.81
United States of America Mortgage Industry PE Ratio Median Figure of 129 Publicly-Listed Mortgage Companies 14.32x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Provident Bancorp.

NasdaqCM:PVBC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:PVBC Share Price ÷ EPS (both in USD)

= 27.81 ÷ 1.03

27.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Provident Bancorp is overvalued based on earnings compared to the US Mortgage industry average.
  • Provident Bancorp is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Provident Bancorp's expected growth come at a high price?
Raw Data
NasdaqCM:PVBC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
7.7%per year
United States of America Mortgage Industry PEG Ratio Median Figure of 50 Publicly-Listed Mortgage Companies 1.43x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Provident Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Provident Bancorp's assets?
Raw Data
NasdaqCM:PVBC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $13.83
NasdaqCM:PVBC Share Price * NasdaqCM (2019-07-17) in USD $27.81
United States of America Mortgage Industry PB Ratio Median Figure of 145 Publicly-Listed Mortgage Companies 1.13x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NasdaqCM:PVBC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:PVBC Share Price ÷ Book Value per Share (both in USD)

= 27.81 ÷ 13.83

2.01x

* Primary Listing of Provident Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Provident Bancorp is overvalued based on assets compared to the US Mortgage industry average.
X
Value checks
We assess Provident Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. Provident Bancorp has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PVBC Future Performance

 How is Provident Bancorp expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Provident Bancorp, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Provident Bancorp expected to grow at an attractive rate?
  • Provident Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Provident Bancorp's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Provident Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:PVBC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:PVBC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 7.7%
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 10.6%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:PVBC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:PVBC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 39 16 10
2018-12-31 38 17 9
2018-09-30 40 13 8
2018-06-30 41 14 9
2018-03-31 40 11 8
2017-12-31 39 9 8
2017-09-30 34 10 8
2017-06-30 32 9 7
2017-03-31 31 8 7
2016-12-31 30 9 6
2016-09-30 29 9 6
2016-06-30 28 9 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Provident Bancorp's earnings are expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Provident Bancorp is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:PVBC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Provident Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:PVBC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.03
2018-12-31 1.01
2018-09-30 0.89
2018-06-30 0.97
2018-03-31 0.88
2017-12-31 0.86
2017-09-30 0.86
2017-06-30 0.75
2017-03-31 0.72
2016-12-31 0.69
2016-09-30 0.66
2016-06-30 0.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Provident Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Provident Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Provident Bancorp has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PVBC Past Performance

  How has Provident Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Provident Bancorp's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Provident Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • Provident Bancorp's 1-year earnings growth is less than its 5-year average (17% vs 23.4%)
  • Provident Bancorp's earnings growth has not exceeded the US Mortgage industry average in the past year (17% vs 39%).
Earnings and Revenue History
Provident Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Provident Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:PVBC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 38.64 9.52 22.40
2018-12-31 37.98 9.33 21.90
2018-09-30 40.34 8.23 21.71
2018-06-30 41.42 8.92 21.45
2018-03-31 39.89 8.14 20.88
2017-12-31 39.08 7.92 20.38
2017-09-30 34.22 7.90 19.46
2017-06-30 32.02 6.89 18.89
2017-03-31 31.00 6.65 18.17
2016-12-31 29.84 6.34 17.39
2016-09-30 29.09 6.02 16.96
2016-06-30 28.05 4.35 16.32
2016-03-31 27.31 4.18 15.81
2015-12-31 26.28 3.66 15.50
2015-09-30 25.24 3.21 15.23
2015-06-30 24.41 4.29 14.75
2015-03-31 24.03 4.48 14.31
2014-12-31 23.44 4.39 13.89
2013-12-31 22.98 3.84 13.95

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Provident Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Provident Bancorp used its assets more efficiently than the US Mortgage industry average last year based on Return on Assets.
  • Unable to establish if Provident Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Provident Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Provident Bancorp has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PVBC Health

 How is Provident Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Provident Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Provident Bancorp Company Filings, last reported 3 months ago.

NasdaqCM:PVBC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 128.27 79.94 23.73
2018-12-31 125.58 68.02 28.61
2018-09-30 122.14 29.90 25.99
2018-06-30 119.99 39.88 47.81
2018-03-31 117.33 45.21 22.32
2017-12-31 115.78 26.84 47.69
2017-09-30 116.05 78.37 17.58
2017-06-30 114.00 60.08 11.94
2017-03-31 111.24 32.87 11.35
2016-12-31 109.15 49.86 10.71
2016-09-30 108.34 41.46 22.79
2016-06-30 106.93 38.95 16.93
2016-03-31 103.48 29.44 15.98
2015-12-31 101.41 57.42 20.46
2015-09-30 117.01 17.41 26.36
2015-06-30 77.56 17.64 53.81
2015-03-31 77.05 41.64 16.41
2014-12-31 75.79 39.24 9.56
2013-12-31 69.83 40.99 15.36
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Provident Bancorp has an acceptable proportion of non-loan assets held.
  • Provident Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Provident Bancorp are broadly funded by customer deposits.
  • Provident Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Provident Bancorp has a sufficient allowance for bad loans.
  • Provident Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Provident Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Provident Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PVBC Dividends

 What is Provident Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Provident Bancorp dividends.
If you bought $2,000 of Provident Bancorp shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Provident Bancorp's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Provident Bancorp's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:PVBC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 95 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Provident Bancorp has not reported any payouts.
  • Unable to verify if Provident Bancorp's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Provident Bancorp's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Provident Bancorp has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Provident Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Provident Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Provident Bancorp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PVBC Management

 What is the CEO of Provident Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Mansfield
COMPENSATION $756,669
AGE 57
TENURE AS CEO 6.5 years
CEO Bio

Mr. David P. Mansfield, also known as Dave, has been the Chief Executive Officer and President of Provident Bancorp, Inc. since May 2013. Mr. Mansfield served as the Chief Financial Officer of Provident Bancorp since joined it in 2001 and also it’s Executive Vice President since December 2003. He has been the Chief Executive Officer of The Provident Bank since May 2013. He worked as a federal banking regulator with the FDIC supervising community banks and at the Office of Comptroller of the Currency supervising the largest and most complex national banks. He has been a Director of The Provident Bank and Provident Bancorp, Inc. since 2013. He served as a founding Director at BancAlliance in Washington, D.C. He served on the board and as treasurer of the Amesbury Chamber of Commerce and was a board member and treasurer of the Jeanne Geiger Crisis Center. He participates in many community organizations, as a finance committee member at the Anna Jacques Hospital and as West Newbury representative to the Whittier Regional Technical High School. He is a Certified Public Accountant and a Chartered Financial Analyst. Mr. Mansfield is a graduate of the University of Massachusetts.

CEO Compensation
  • Dave's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dave's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Provident Bancorp management team in years:

5.8
Average Tenure
  • The average tenure for the Provident Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dave Mansfield

TITLE
President
COMPENSATION
$757K
AGE
57
TENURE
6.5 yrs

Carol Houle

TITLE
Executive VP & CFO
COMPENSATION
$419K
AGE
48
TENURE
5.8 yrs

Kimberly Scholtz

TITLE
Corporate Secretary

Anne Lapointe

TITLE
Executive VP & Chief Administrative Officer of The Provident Bank
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Provident Bancorp board of directors in years:

3.2
Average Tenure
60
Average Age
  • The tenure for the Provident Bancorp board of directors is about average.
Board of Directors

Joe Reilly

TITLE
Chairman of the Board
AGE
62
TENURE
0.3 yrs

Dave Mansfield

TITLE
President
COMPENSATION
$757K
AGE
57
TENURE
6.5 yrs

Frank Cousins

TITLE
Director
COMPENSATION
$35K
AGE
60
TENURE
16.5 yrs

Laurie Knapp

TITLE
Director
COMPENSATION
$40K
AGE
61
TENURE
21.5 yrs

Lisa DeStefano

TITLE
Director
COMPENSATION
$31K
AGE
55
TENURE
3.2 yrs

Dick Peeke

TITLE
Director
COMPENSATION
$32K
AGE
74
TENURE
29.5 yrs

Chuck Withee

TITLE
Director
COMPENSATION
$553K
AGE
56
TENURE
2.3 yrs

Jay Gould

TITLE
Director
COMPENSATION
$22K
AGE
65
TENURE
2.3 yrs

Arthur Sullivan

TITLE
Director
COMPENSATION
$28K
AGE
60
TENURE
3.2 yrs

James DeLeo

TITLE
Director
COMPENSATION
$27K
AGE
53
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Provident Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Provident Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PVBC News

Simply Wall St News

Does Provident Bancorp, Inc. (NASDAQ:PVBC) Have A Particularly Volatile Share Price?

Given that it has a beta of 0.85, we can surmise that the Provident Bancorp share price has not been strongly impacted by broader market volatility (over the last 5 years). … This means that -- if history is a guide -- buying the stock would reduce the impact of overall market volatility in many portfolios (depending on the beta of the portfolio, of course). … What this means for you: One potential advantage of owning low beta stocks like Provident Bancorp is that your overall portfolio won't be too sensitive to overall market movements.

Simply Wall St -

If You Had Bought Provident Bancorp (NASDAQ:PVBC) Shares Three Years Ago You'd Have Made 73%

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During three years of share price growth, Provident Bancorp achieved compound earnings per share growth of 31% per year. … This EPS growth is higher than the 20% average annual increase in the share price.

Simply Wall St -

Do Directors Own Provident Bancorp, Inc. (NASDAQ:PVBC) Shares?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Provident Bancorp is not a large company by global standards. … institutions own shares in the company.

Simply Wall St -

If You Had Bought Provident Bancorp (NASDAQ:PVBC) Stock Three Years Ago, You Could Pocket A 62% Gain Today

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Provident Bancorp achieved compound earnings per share growth of 36% per year. … The average annual share price increase of 18% is actually lower than the EPS growth.

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How Much Did Provident Bancorp, Inc.'s (NASDAQ:PVBC) CEO Pocket Last Year?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Dave Mansfield's Compensation Compare With Similar Sized Companies. … is worth US$212m, and total annual CEO compensation is US$711k.

Simply Wall St -

Here's What Provident Bancorp Inc's (NASDAQ:PVBC) P/E Is Telling Us

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Provident Bancorp has a P/E ratio of 30.47, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is Provident Bancorp Inc (NASDAQ:PVBC) Attractive At Its Current PE Ratio?

Provident Bancorp Inc (NASDAQ:PVBC) trades with a trailing P/E of 29x, which is higher than the industry average of 18.5x. … While PVBC might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … See our latest analysis for Provident Bancorp

Simply Wall St -

Has Provident Bancorp Inc (NASDAQ:PVBC) Improved Earnings Growth In Recent Times?

For investors with a long-term horizon, assessing earnings trend over time and against industry benchmarks is more valuable than looking at a single earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Provident Bancorp Inc (NASDAQ:PVBC) useful as an attempt to give more color around how Provident Bancorp is currently performing. … View out our latest analysis for Provident Bancorp?

Simply Wall St -

Did Provident Bancorp Inc (NASDAQ:PVBC) Create Value For Shareholders?

Check out our latest analysis for Provident Bancorp Breaking down Return on Equity Return on Equity (ROE) weighs Provident Bancorp’s profit against the level of its shareholders’ equity. … Since Provident Bancorp’s return does not cover its cost, with a difference of -2.92%, this means its current use of equity is not efficient and not sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqCM:PVBC Last Perf Jan 24th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

PVBC Company Info

Description

Provident Bancorp, Inc. operates as a holding company for The Provident Bank that provides various financial services to individuals and small businesses in the United States. It offers checking, 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, one- to four-family residential, and consumer loans, as well as home equity loans and lines of credit. As of December 31, 2018, it operated through its main office and seven branch offices located in Amesbury and Newburyport, Massachusetts; and Bedford, Exeter, Hampton, Portsmouth, and Seabrook, New Hampshire, as well as four loan production offices located in Boston and Dedham, Massachusetts, and Nashua and Portsmouth, New Hampshire. The company was founded in 1828 and is headquartered in Amesbury, Massachusetts. Provident Bancorp, Inc. is a subsidiary of Provident Bancorp.

Details
Name: Provident Bancorp, Inc.
PVBC
Exchange: NasdaqCM
Founded: 1828
$257,845,587
9,271,686
Website: http://www.theprovidentbank.com
Address: Provident Bancorp, Inc.
5 Market Street,
Amesbury,
Massachusetts, 01913,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM PVBC Common Shares Nasdaq Capital Market US USD 15. Jul 2015
Number of employees
Current staff
Staff numbers
124
Provident Bancorp employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 00:48
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/06/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.