Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report)'s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.41 and traded as high as $12.38. Provident Bancorp shares last traded at $12.37, with a volume of 19,487 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Stephens lifted their target price 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.
Check Out Our Latest Stock Report on PVBC
Provident Bancorp Stock Performance
The company has a market capitalization of $220.38 million, a price-to-earnings ratio of 28.91 and a beta of 0.48. 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 stock has a 50-day simple moving average of $11.47 and a 200-day simple moving average of $10.97.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.29 EPS for the quarter, beating 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 anticipate that Provident Bancorp Inc will post 0.43 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Provident Bancorp by 165.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank's stock worth $545,000 after acquiring an additional 31,535 shares during the period. Barclays PLC grew its position in Provident Bancorp by 51.6% in the third quarter. Barclays PLC now owns 26,192 shares of the bank's stock worth $283,000 after acquiring an additional 8,911 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Provident Bancorp by 174.3% in the 3rd quarter. Pallas Capital Advisors LLC now owns 90,314 shares of the bank's stock valued at $973,000 after acquiring an additional 57,392 shares in the last quarter. State Street Corp boosted its holdings in Provident Bancorp by 3.9% during the third quarter. State Street Corp now owns 180,816 shares of the bank's stock valued at $1,951,000 after acquiring an additional 6,864 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 worth $4,012,000 after acquiring an additional 6,078 shares during the last quarter. Institutional investors and hedge funds own 74.61% of the company's stock.
About Provident Bancorp
(
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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