Provident Bancorp Inc (NASDAQ:PVBC - Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $10.68 and traded as high as $11.01. Provident Bancorp shares last traded at $10.98, with a volume of 36,434 shares changing hands.
Analysts Set New Price Targets
Separately, Stephens increased their price objective on Provident Bancorp from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday.
Get Our Latest Stock Report on PVBC
Provident Bancorp Stock Performance
The firm has a market cap of $195.92 million, a PE ratio of 34.30 and a beta of 0.46. The firm has a fifty day moving average price of $10.68 and a 200 day moving average price of $10.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04.
Institutional Investors Weigh In On Provident Bancorp
Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Provident Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 371,738 shares of the bank's stock valued at $4,012,000 after purchasing an additional 6,078 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Provident Bancorp by 16.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,437 shares of the bank's stock valued at $3,418,000 after buying an additional 46,964 shares during the period. State Street Corp grew its position in shares of Provident Bancorp by 3.9% during the 3rd quarter. State Street Corp now owns 180,816 shares of the bank's stock valued at $1,951,000 after buying an additional 6,864 shares during the last quarter. Renaissance Technologies LLC increased its stake in Provident Bancorp by 2.9% in the 2nd quarter. Renaissance Technologies LLC now owns 92,380 shares of the bank's stock valued at $941,000 after buying an additional 2,600 shares during the period. Finally, Pallas Capital Advisors LLC increased its position in 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. 74.61% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
Before you consider Provident Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Provident Bancorp wasn't on the list.
While Provident Bancorp currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
