Four Tree Island Advisory LLC Buys Shares of 92,350 Provident Bancorp Inc (NASDAQ:PVBC)

Four Tree Island Advisory LLC bought a new position in Provident Bancorp Inc (NASDAQ:PVBC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 92,350 shares of the bank's stock, valued at approximately $1,053,000. Provident Bancorp makes up 0.7% of Four Tree Island Advisory LLC's investment portfolio, making the stock its 15th largest position. Four Tree Island Advisory LLC owned 0.52% of Provident Bancorp as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PVBC. Squarepoint Ops LLC boosted its stake in Provident Bancorp by 14.7% in the 2nd quarter. Squarepoint Ops LLC now owns 21,278 shares of the bank's stock worth $217,000 after purchasing an additional 2,728 shares in the last quarter. Pallas Capital Advisors LLC raised its position in Provident Bancorp by 174.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 90,314 shares of the bank's stock worth $973,000 after buying an additional 57,392 shares during the last quarter. MetLife Investment Management LLC raised its position in Provident Bancorp by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank's stock worth $99,000 after buying an additional 5,177 shares during the last quarter. State Street Corp raised its position in Provident Bancorp by 3.9% during the 3rd quarter. State Street Corp now owns 180,816 shares of the bank's stock worth $1,951,000 after buying an additional 6,864 shares during the last quarter. Finally, Barclays PLC raised its position in Provident Bancorp by 51.6% during the 3rd quarter. Barclays PLC now owns 26,192 shares of the bank's stock worth $283,000 after buying an additional 8,911 shares during the last quarter. 74.61% of the stock is currently owned by institutional investors and hedge funds.

Provident Bancorp Stock Performance

PVBC traded up $0.06 during trading on Thursday, reaching $12.64. 12,657 shares of the company's stock were exchanged, compared to its average volume of 25,640. Provident Bancorp Inc has a 1 year low of $7.36 and a 1 year high of $12.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $224.11 million, a P/E ratio of 29.40 and a beta of 0.48. The company's fifty day simple moving average is $11.54 and its 200-day simple moving average is $10.98.

Provident Bancorp (NASDAQ:PVBC - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.24. Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. As a group, research analysts predict that Provident Bancorp Inc will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stephens raised their price target on shares of Provident Bancorp from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th.

Provident Bancorp 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. The Provident Bank, a subsidiary of Provident Bancorp, Inc is an innovative, commercial bank that finds solutions for its business and private clients.