Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report)'s stock price crossed 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 Down 3.2 %
The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 1.09. The firm's 50 day moving average price is $11.92 and its two-hundred day moving average price is $11.34. The firm has a market cap of $196.09 million, a price-to-earnings ratio of 25.72 and a beta of 0.30.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Provident Bancorp Inc will post 0.43 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Provident Bancorp
Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in shares of Provident Bancorp during the fourth quarter worth about $62,000. MetLife Investment Management LLC increased its position in Provident Bancorp by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank's stock worth $99,000 after purchasing an additional 5,177 shares during the period. Wells Fargo & Company MN lifted its holdings in Provident Bancorp by 23.8% in the fourth 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 purchased a new stake in shares of Provident Bancorp during the 4th quarter worth $156,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Provident Bancorp during the 4th quarter worth $162,000. 74.61% of the stock is owned by institutional investors and hedge funds.
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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