Shares of Provident Bancorp Inc (NASDAQ:PVBC – Get Rating) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.56 and traded as high as $8.61. Provident Bancorp shares last traded at $7.97, with a volume of 371,615 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on PVBC shares. Stephens lowered Provident Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 16th. TheStreet downgraded Provident Bancorp from a “c” rating to a “d” rating in a research report on Tuesday, January 17th.
Provident Bancorp Trading Down 6.5 %
The stock has a market capitalization of $140.83 million, a P/E ratio of 7.97 and a beta of 0.70. The business’s fifty day simple moving average is $8.56 and its two-hundred day simple moving average is $10.41.
Institutional Trading of Provident Bancorp
Institutional investors have recently modified their holdings of the company. M3F Inc. boosted its stake in Provident Bancorp by 23.0% during the fourth quarter. M3F Inc. now owns 1,243,983 shares of the bank’s stock worth $9,056,000 after buying an additional 232,847 shares in the last quarter. Jacobs Asset Management LLC boosted its position in shares of Provident Bancorp by 18.1% during the 2nd quarter. Jacobs Asset Management LLC now owns 462,165 shares of the bank’s stock valued at $7,256,000 after acquiring an additional 70,761 shares in the last quarter. BHZ Capital Management LP acquired a new position in Provident Bancorp in the fourth quarter worth about $2,399,000. Kennedy Capital Management Inc. lifted its stake in Provident Bancorp by 51.2% during the second quarter. Kennedy Capital Management Inc. now owns 294,224 shares of the bank’s stock worth $4,619,000 after purchasing an additional 99,655 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Provident Bancorp by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 273,298 shares of the bank’s stock worth $1,989,000 after purchasing an additional 7,885 shares during the period. Institutional investors and hedge funds own 47.99% of the company’s stock.
Provident Bancorp Company Profile
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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