In This Article:
Provident Bancorp (NASDAQ:PVBC) Full Year 2024 Results
Key Financial Results
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Revenue: US$55.4m (down 16% from FY 2023).
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Net income: US$7.27m (down 34% from FY 2023).
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Profit margin: 13% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue.
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EPS: US$0.43 (down from US$0.66 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Provident Bancorp EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 48%.
Looking ahead, revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 4.9% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Provident Bancorp's balance sheet and an in-depth analysis of the company's financial position.
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