Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report)'s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.89 and traded as low as $11.32. Provident Bancorp shares last traded at $11.48, with a volume of 16,618 shares trading hands.
Provident Bancorp Stock Performance
The firm has a market capitalization of $202.48 million, a PE ratio of 26.56 and a beta of 0.30. The business has a 50-day simple moving average of $11.91 and a 200-day simple moving average of $11.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 1.09.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.29 EPS for the quarter, beating the consensus estimate of $0.05 by $0.24. Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. Equities research analysts expect that Provident Bancorp Inc will post 0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Provident Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 31,535 shares during the period. Barclays PLC grew its position in shares of 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 in the last quarter. State Street Corp raised its holdings in shares of Provident Bancorp by 3.9% in 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 in the last quarter. Four Tree Island Advisory LLC purchased a new stake in Provident Bancorp in the fourth quarter worth about $1,053,000. Finally, Corient Private Wealth LLC purchased a new position in Provident Bancorp during the 4th quarter valued at about $162,000. Institutional investors 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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