Provident Bancorp Inc (Maryland) reports results for the quarter ended in December - Earnings Summary

Provident Bancorp (Maryland)

25/01/2024 23:45

* Provident Bancorp Inc (Maryland)  PVBC.OQ  reported
quarterly
adjusted earnings of 18 cents​​ per share for the quarter ended
in December, higher than the same quarter last year, when the
company reported EPS of 16 cents.  The lone analyst forecast for
the quarter was for earnings of 12 cents per share. 
    * Revenue fell 18.8% to $15.21 million from a year ago;
analysts
expected $15.50 million. 
    * Provident Bancorp Inc (Maryland)'s reported EPS for the
quarter
was 18 cents​.
    * The company reported quarterly net income of $2.92
million.
    * Provident Bancorp Inc (Maryland) shares had risen by 6.9%
this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 20% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Provident Bancorp
Inc (Maryland) is $11.00 
This summary was machine generated from LSEG data January 25 at
11:45 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.12           0.18           Beat
 Sep. 30 2023      0.12           0.15           Beat
 Jun. 30 2023      0.14           0.21           Beat
 Mar. 31 2023      0.16           0.13           Missed