Provident Bancorp Q3 profit dips sequentially

Provident Bancorp (Maryland)

23/10/2025 21:11

Overview

Provident Bancorp Q3 net income $2.7 mln, slight decrease from previous quarter

Net interest and dividend income for Q3 decreased compared to previous quarter

Company recognized $418,000 credit loss benefit in Q3, driven by decline in loans

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

CREDIT LOSS BENEFIT - Co recognized $418,000 credit loss benefit due to reduction in pooled reserves, reflecting decline in loans

NONINTEREST EXPENSE DECREASE - Co reports decrease in noninterest expenses due to reduced merger-related expenses and reversal of loss contingency

INTEREST EXPENSE INCREASE - Co's interest expense on deposits increased due to higher average balance and cost of deposits

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.16
Q3 Net Income
$2.67 mln
Q3 Pretax Profit
$3.72 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Provident Bancorp Inc (Maryland) is $12.50, about 0.7% below its October 21 closing price of $12.59

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nPn3llCXa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)