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PVBC

Provident BancorpNasdaqCM:PVBC Stock Report

Market Cap

US$223.9m

7D

2.9%

1Y

110.6%

Updated

26 Sep, 2021

Data

Company Financials +
PVBC fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends1/6

PVBC Overview

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.

Rewards

PE ratio (15x) is below the US market (17.9x)

Earnings are forecast to grow 6.49% per year

Earnings grew by 42% over the past year

Risk Analysis

No risks detected for PVBC from our risk checks.

Provident Bancorp Competitors

Hingham Institution for Savings

NasdaqGM:HIFS

US$739.7m

Waterstone Financial

NasdaqGS:WSBF

US$478.4m

Blue Foundry Bancorp

NasdaqGS:BLFY

US$391.9m

PCSB Financial

NasdaqCM:PCSB

US$262.6m

Price History & Performance

Summary of all time highs, changes and price drops for Provident Bancorp
Historical stock prices
Current Share PriceUS$16.07
52 Week HighUS$7.65
52 Week LowUS$18.90
Beta1.12
1 Month Change-2.72%
3 Month Change-0.68%
1 Year Change110.62%
3 Year Change12.20%
5 Year Change108.21%
Change since IPO152.77%

Recent News & Updates

Jun 07
Here's Why I Think Provident Bancorp (NASDAQ:PVBC) Might Deserve Your Attention Today

Here's Why I Think Provident Bancorp (NASDAQ:PVBC) Might Deserve Your Attention Today

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

May 05

Provident Bancorp goes ex-dividend tomorrow

Provident Bancorp (PVBC) had declared $0.04/share quarterly dividend, 33.3% increase from prior dividend of $0.03.Payable May 21; for shareholders of record May 7; ex-div May 6.See PVBC Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

PVBCUS MortgageUS Market
7D2.9%0.7%0.1%
1Y110.6%23.1%35.3%

Return vs Industry: PVBC exceeded the US Mortgage industry which returned 23.1% over the past year.

Return vs Market: PVBC exceeded the US Market which returned 35.3% over the past year.

Price Volatility

Is PVBC's price volatile compared to industry and market?
PVBC volatility
PVBC Beta1.12
Industry Beta1.12
Market Beta1

Stable Share Price: PVBC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: PVBC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1828154Dave Mansfieldhttps://www.bankprov.com

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.

Provident Bancorp Fundamentals Summary

How do Provident Bancorp's earnings and revenue compare to its market cap?
PVBC fundamental statistics
Market CapUS$223.91m
Earnings (TTM)US$14.97m
Revenue (TTM)US$58.78m

15.0x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PVBC income statement (TTM)
RevenueUS$58.78m
Cost of RevenueUS$0
Gross ProfitUS$58.78m
ExpensesUS$43.81m
EarningsUS$14.97m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.07
Gross Margin100.00%
Net Profit Margin25.46%
Debt/Equity Ratio5.8%

How did PVBC perform over the long term?

See historical performance and comparison

Dividends

1.0%

Current Dividend Yield

15%

Payout Ratio

Valuation

Is Provident Bancorp undervalued compared to its fair value and its price relative to the market?

14.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PVBC ($16.07) is trading above our estimate of fair value ($7.66)

Significantly Below Fair Value: PVBC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PVBC is poor value based on its PE Ratio (15x) compared to the US Mortgage industry average (12.1x).

PE vs Market: PVBC is good value based on its PE Ratio (15x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: PVBC is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: PVBC's PB Ratio (1x) is in line with the US Mortgage industry average.


Future Growth

How is Provident Bancorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

6.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PVBC's forecast earnings growth (6.5% per year) is above the savings rate (2%).

Earnings vs Market: PVBC's earnings (6.5% per year) are forecast to grow slower than the US market (15% per year).

High Growth Earnings: PVBC's earnings are forecast to grow, but not significantly.

Revenue vs Market: PVBC's revenue (7.5% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: PVBC's revenue (7.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PVBC's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Provident Bancorp performed over the past 5 years?

17.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PVBC has high quality earnings.

Growing Profit Margin: PVBC's current net profit margins (25.5%) are higher than last year (23.4%).


Past Earnings Growth Analysis

Earnings Trend: PVBC's earnings have grown by 17.5% per year over the past 5 years.

Accelerating Growth: PVBC's earnings growth over the past year (42%) exceeds its 5-year average (17.5% per year).

Earnings vs Industry: PVBC earnings growth over the past year (42%) exceeded the Mortgage industry 34%.


Return on Equity

High ROE: PVBC's Return on Equity (6.5%) is considered low.


Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: PVBC's Assets to Equity ratio (6.8x) is low.

Allowance for Bad Loans: PVBC has a sufficient allowance for bad loans (416%).

Low Risk Liabilities: 98% of PVBC's liabilities are made up of primarily low risk sources of funding.

Loan Level: PVBC has an appropriate level of Loans to Assets ratio (84%).

Low Risk Deposits: PVBC's Loans to Deposits ratio (101%) is appropriate.

Level of Bad Loans: PVBC has an appropriate level of bad loans (0.3%).


Dividend

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

1.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PVBC's dividend (1%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: PVBC's dividend (1%) is low compared to the top 25% of dividend payers in the US market (3.6%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether PVBC's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if PVBC's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (15.2%), PVBC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Dave Mansfield (59 yo)

8.67yrs

Tenure

US$3,004,044

Compensation

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 Ba...


CEO Compensation Analysis

Compensation vs Market: Dave's total compensation ($USD3.00M) is above average for companies of similar size in the US market ($USD1.08M).

Compensation vs Earnings: Dave's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: PVBC's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: PVBC's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Provident Bancorp, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Provident Bancorp, Inc.
  • Ticker: PVBC
  • Exchange: NasdaqCM
  • Founded: 1828
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$223.905m
  • Shares outstanding: 13.93m
  • Website: https://www.bankprov.com

Number of Employees


Location

  • Provident Bancorp, Inc.
  • 5 Market Street
  • Amesbury
  • Massachusetts
  • 1913
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/26 22:17
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.