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Provident Bancorp (PVBC)

Company Profile
Provident Bancorp, Inc. is a Maryland corporation that was formed in 2019 to be the successor corporation to Provident Bancorp, Inc., a Massachusetts corporation, and the holding company for The Provident Bank, which also operates under the name BankProv. The Provident Bank is an innovative, commercial bank that finds solutions for its business and private clients. The bank is committed to strengthening the economic development of the regions it serves, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).
Provident Bancorp logo

Company profile

Ticker
PVBC
Exchange
NASDAQ
Website
www.theprovidentbank.com
CEO
David P. Mansfield
Employees
Incorporated
Maryland
Location
Massachusetts
Fiscal year end
Dec 31
Sector
Finance and Insurance > Savings Institutions
Industry (SIC)
Savings Institutions, Not Federally Chartered
New York Community Bancorp • Berkshire Hills Bancorp • Blue Foundry Bancorp • Third Coast Bancshares • United Community Financial • ESSA Bancorp • Heritage Financial • Pioneer Bancorp • PCSB Financial • Home Bancorp ...
SEC CIK
0001778784
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists

PVBC stock data

Analyst ratings and price targets

Last 3 months
Stephens & Co.
Downgraded
Equal-Weight
$12.00
16 Nov 22
Latest filings (excl ownership)
View all
8-K
Results of Operations and Financial Condition
30 Jan 23
10-Q
2022 Q3
Quarterly report
17 Jan 23
8-K
BankProv announces Executive Transitions
23 Dec 22
RW
Registration withdrawal request
2 Dec 22
8-K
Receives Nasdaq Notice Regarding Late Form 10-Q Filing
22 Nov 22
8-K
Results of Operations and Financial Condition
15 Nov 22
NT 10-Q
Notice of late quarterly filing
15 Nov 22
8-K
Results of Operations and Financial Condition
18 Oct 22
10-Q
2022 Q2
Quarterly report
12 Aug 22
8-K
Results of Operations and Financial Condition
1 Aug 22
Latest ownership filings
View all
4
Carol L Houle
20 Dec 22
4
David P Mansfield
20 Dec 22
SC 13G
M3 PARTNERS LP
19 Sep 22
4
Laurie H Knapp
25 Aug 22
11-K
Annual report of employee stock purchases
27 Jun 22
4
Laurie H Knapp
3 Mar 22
4
David P Mansfield
3 Mar 22
SC 13G/A
M3 PARTNERS LP
14 Feb 22
SC 13G/A
PRICE T ROWE ASSOCIATES INC /MD/
14 Feb 22
SC 13G
PRINCIPAL FINANCIAL GROUP INC
11 Feb 22

Financial summary

Financial statements Chart PVBC financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 155.91 mm 155.91 mm 155.91 mm 155.91 mm 155.91 mm 155.91 mm
Cash burn (monthly) (no burn) 2.94 mm 15.76 mm 2.26 mm (no burn) (no burn)
Cash used (since last report) n/a 11.97 mm 64.19 mm 9.20 mm n/a n/a
Cash remaining n/a 143.95 mm 91.72 mm 146.71 mm n/a n/a
Runway (months of cash) n/a 49.0 5.8 64.9 n/a n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2021

PVBC institutional ownership history Ownership history
48.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 68 68 –
Opened positions 5 10 -50.0%
Closed positions 5 4 +25.0%
Increased positions 17 19 -10.5%
Reduced positions 27 25 +8.0%
13F shares Current Prev Q Change
Total value 133.94 mm 140.47 mm -4.6%
Total shares 8.65 mm 8.91 mm -3.0%
Total puts 0.00 0.00
Total calls 0.00 0.00
Total put/call ratio – – –
Largest owners Shares Value Change
T. Rowe Price 1.68 mm $26.87 mm -0.2%
M3 Partners 1.13 mm $13.62 mm 0.0%
BLK Blackrock 1.07 mm $17.16 mm -7.1%
Vanguard 785.14 k $12.58 mm +1.2%
M3F 702.14 k $11.25 mm -10.6%
Maltese Capital Management 275.00 k $4.41 mm +7.8%
Geode Capital Management 273.22 k $4.38 mm +0.5%
STT State Street 237.11 k $3.80 mm +5.1%
Bridgeway Capital Management 232.80 k $3.73 mm 0.0%
Jacobs Asset Management 210.01 k $3.36 mm +3.6%
Largest transactions Shares Bought/sold Change
Kennedy Capital Management 172.70 k +172.70 k NEW
M3F 702.14 k -83.58 k -10.6%
BLK Blackrock 1.07 mm -82.34 k -7.1%
TCW 0.00 -76.56 k EXIT
Rockland Trust 10.77 k -40.32 k -78.9%
JPM JPMorgan Chase & Co. 184.62 k -38.56 k -17.3%
Arrowstreet Capital, Limited Partnership 109.14 k -37.73 k -25.7%
Acadian Asset Management 32.06 k -27.81 k -46.5%
Legato Capital Management 0.00 -22.37 k EXIT
GS Goldman Sachs 16.34 k -22.03 k -57.4%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

PVBC insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Dec 22 Mansfield David P Common Stock Payment of exercise Dispose F No No 7.25 5,787 41.96 k 74,001
17 Dec 22 Carol L Houle Common Stock Payment of exercise Dispose F No No 7.25 2,042 14.80 k 66,676
23 Aug 22 Knapp Laurie H Common Stock Option exercise Acquire M No No 8.61 1,000 8.61 k 38,035
23 Aug 22 Knapp Laurie H Stock Options Common Stock Option exercise Dispose M No No 8.61 1,000 8.61 k 22,108
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
Provident Bancorp Q4 EPS $0.16 Misses $0.28 Estimate
27 Jan 23
Provident Bancorp (NASDAQ:PVBC) reported quarterly earnings of $0.16 per share which missed the analyst consensus estimate of $0.28 by 42.86 percent. This is a 23.81 percent decrease over earnings of $0.21 per share from
Overview Of Value Stocks In The Financial Services Sector
5 Jan 23
BankProv Announces Executive Transitions; Carol Houle, CFO, And Joe Reilly, Who Has Been Serving As The Board Chair, Will Serve As Interim Co-CEOs And Co-Presidents; Laurie Knapp To Serve As Board Chair Effective December 20, 2022
23 Dec 22
Provident Bancorp, Inc. (NASDAQ:PVBC), the holding company for BankProv, announced changes to the executive leadership team and named a new Board Chair, effective January 1, 2023. In a mutual decision by the
Stocks That Hit 52-Week Lows On Tuesday
6 Dec 22
Stocks That Hit 52-Week Lows On Monday
5 Dec 22

Press releases

From Benzinga Pro
Provident Bancorp Shareholder Notice
31 Jan 23
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Provident Bancorp To Contact Him Directly To Discuss Their OptionsNew York, New York--(Newsfile Corp. -
ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Provident Bancorp, Inc. Investors to Inquire About Securities Class Action Investigation - PVBC
31 Jan 23
NEW YORK, Jan. 31, 2023 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm,
Provident Bancorp Investor Alert
30 Jan 23
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Provident Bancorp To Contact Him Directly To Discuss Their OptionsNew York, New York--(Newsfile Corp. -
Provident Bancorp Shareholder Investigation: Submit Your Losses to Johnson Fistel
30 Jan 23
ROSEN, LEADING INVESTOR COUNSEL, Encourages Provident Bancorp, Inc. Investors to Inquire About Securities Class Action Investigation – PVBC
29 Jan 23
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