Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.79 and traded as high as $11.90. Provident Bancorp shares last traded at $11.47, with a volume of 63,688 shares trading hands.
Provident Bancorp Trading Up 2.7 %
The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a market cap of $207.97 million, a price-to-earnings ratio of 27.28 and a beta of 0.45. The company has a fifty day moving average price of $11.83 and a 200-day moving average price of $11.28.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.24. Provident Bancorp had a return on equity of 3.22% and a net margin of 7.62%. As a group, research analysts expect that Provident Bancorp Inc will post 0.43 EPS for the current year.
Institutional Trading of Provident Bancorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in shares of Provident Bancorp by 129.1% during 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. State Street Corp boosted its position in Provident Bancorp by 3.9% during the third quarter. State Street Corp now owns 180,816 shares of the bank's stock worth $1,951,000 after purchasing an additional 6,864 shares in the last quarter. Barclays PLC grew its holdings in Provident Bancorp by 51.6% in the third quarter. Barclays PLC now owns 26,192 shares of the bank's stock valued at $283,000 after purchasing an additional 8,911 shares during the period. Geode Capital Management LLC increased its position in shares of Provident Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 371,738 shares of the bank's stock valued at $4,012,000 after buying an additional 6,078 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Provident Bancorp by 165.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank's stock worth $545,000 after buying an additional 31,535 shares during the period. Institutional investors and hedge funds own 74.61% of the company's stock.
Provident Bancorp Company Profile
(
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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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