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Provident Bancorp (NASDAQ:PVBC) Stock Passes Above 50 Day Moving Average - Time to Sell?

Provident Bancorp logo with Finance background

Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.08 and traded as high as $11.98. Provident Bancorp shares last traded at $11.45, with a volume of 52,821 shares trading hands.

Wall Street Analyst Weigh In

Separately, Stephens increased 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.

Read Our Latest Report on Provident Bancorp

Provident Bancorp Price Performance

The firm has a 50 day moving average of $11.11 and a 200-day moving average of $10.69. 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 company has a market cap of $201.41 million, a P/E ratio of 35.50 and a beta of 0.48.

Institutional Trading of Provident Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Provident Bancorp by 1.7% in the 3rd 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. Dimensional Fund Advisors LP grew its holdings in shares of Provident Bancorp by 16.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,437 shares of the bank's stock valued at $3,418,000 after purchasing an additional 46,964 shares in the last quarter. State Street Corp increased its position in Provident Bancorp by 3.9% in 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 during the last quarter. Renaissance Technologies LLC raised its stake in Provident Bancorp by 2.9% during the second quarter. Renaissance Technologies LLC now owns 92,380 shares of the bank's stock valued at $941,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in Provident Bancorp by 174.3% during the third quarter. Pallas Capital Advisors LLC now owns 90,314 shares of the bank's stock valued at $973,000 after purchasing an additional 57,392 shares during the last quarter. 74.61% of the stock is currently owned by institutional investors.

Provident Bancorp Company Profile

(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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