Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report)'s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $11.20 and traded as high as $11.61. Provident Bancorp shares last traded at $11.61, with a volume of 15,573 shares changing hands.
Analysts Set New Price Targets
Separately, Stephens upped their price target on Provident Bancorp from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th.
Check Out Our Latest Stock Report on Provident Bancorp
Provident Bancorp Price Performance
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a fifty day simple moving average of $11.22 and a two-hundred day simple moving average of $10.75. The firm has a market cap of $203.01 million, a PE ratio of 35.78 and a beta of 0.48.
Hedge Funds Weigh In On Provident Bancorp
Several institutional investors have recently bought and sold shares of PVBC. MetLife Investment Management LLC raised 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 buying an additional 5,177 shares in the last quarter. Spinnaker Trust purchased a new stake in Provident Bancorp during the second quarter valued at approximately $110,000. Nvest Financial LLC bought a new stake in shares of Provident Bancorp in the 3rd quarter valued at approximately $166,000. Rhumbline Advisers boosted its holdings in shares of Provident Bancorp by 1,670.8% in the 2nd quarter. Rhumbline Advisers now owns 18,328 shares of the bank's stock worth $187,000 after purchasing an additional 17,293 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Provident Bancorp by 14.7% in the 2nd quarter. Squarepoint Ops LLC now owns 21,278 shares of the bank's stock worth $217,000 after purchasing an additional 2,728 shares during the period. Institutional investors 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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