Provident Bancorp price target lowered to $12.50 from $13 at Stephens

Stephens analyst Matt Breese lowered the firm’s price target on Provident Bancorp (PVBC) to $12.50 from $13 and keeps an Equal Weight rating on the shares after Q1 results the firm calls “mixed.” Given higher expenses and modestly lower net interest margin expectations, the firm lowered its 2025 and 2026 EPS estimates by 23% and 25% to 52c and 65c, respectively. However, the firm adds that it believes Provident “remains a cleanup story on the right track, and could be a potential sale candidate over the near/medium-term.”