Shares of Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.33 and traded as low as $10.51. Provident Bancorp shares last traded at $10.70, with a volume of 30,251 shares changing hands.
Wall Street Analyst Weigh In
Separately, Stephens lifted their price objective on Provident Bancorp from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th.
View Our Latest Research Report on Provident Bancorp
Provident Bancorp Trading Up 1.2 %
The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The company's 50-day moving average is $11.34 and its 200-day moving average is $10.87. The stock has a market capitalization of $192.02 million, a price-to-earnings ratio of 33.84 and a beta of 0.48.
Institutional Investors Weigh In On Provident Bancorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC boosted its stake in Provident Bancorp by 174.3% during the third 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 period. Dimensional Fund Advisors LP boosted its position in shares of Provident Bancorp by 16.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,437 shares of the bank's stock worth $3,418,000 after purchasing an additional 46,964 shares during the period. Bank of New York Mellon Corp raised its position in Provident Bancorp by 135.7% in the second quarter. Bank of New York Mellon Corp now owns 64,524 shares of the bank's stock valued at $657,000 after purchasing an additional 37,151 shares during the period. JPMorgan Chase & Co. lifted its stake in Provident Bancorp by 165.8% during the third quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank's stock worth $545,000 after purchasing an additional 31,535 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Provident Bancorp by 1,670.8% during the second quarter. Rhumbline Advisers now owns 18,328 shares of the bank's stock worth $187,000 after buying an additional 17,293 shares during the period. Institutional investors and hedge funds own 74.61% of the company's stock.
About Provident Bancorp
(
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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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