Shares of Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.70 and traded as high as $11.82. Provident Bancorp shares last traded at $11.78, with a volume of 24,132 shares traded.
Analyst Upgrades and Downgrades
Separately, Stephens upped their price objective 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.
Check Out Our Latest Stock Report on Provident Bancorp
Provident Bancorp Stock Performance
The stock's 50-day moving average is $11.70 and its 200-day moving average is $11.20. The firm has a market capitalization of $204.43 million, a price-to-earnings ratio of 26.81 and a beta of 0.45. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last released its quarterly earnings data 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%. On average, analysts predict that Provident Bancorp Inc will post 0.43 EPS for the current fiscal year.
Hedge Funds Weigh In On Provident Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in Provident Bancorp in the 4th quarter valued at approximately $62,000. MetLife Investment Management LLC increased its position in Provident Bancorp by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank's stock valued at $99,000 after acquiring an additional 5,177 shares during the period. Wells Fargo & Company MN increased its position in Provident Bancorp by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,484 shares of the bank's stock valued at $108,000 after acquiring an additional 1,824 shares during the period. Deutsche Bank AG acquired a new position in Provident Bancorp in the 4th quarter valued at approximately $156,000. Finally, Corient Private Wealth LLC acquired a new position in Provident Bancorp in the 4th quarter valued at approximately $162,000. 74.61% of the stock is currently owned by institutional investors and hedge funds.
Provident Bancorp Company Profile
(
Get Free Report)
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.
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