Provident Bancorp Inc (NASDAQ:PVBC) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Provident Bancorp Inc (NASDAQ:PVBC - Free Report) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 412,215 shares of the bank's stock after acquiring an additional 55,174 shares during the quarter. Dimensional Fund Advisors LP owned about 2.32% of Provident Bancorp worth $4,699,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of 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. Corient Private Wealth LLC purchased a new position in Provident Bancorp in the 4th quarter valued at $162,000. Barclays PLC grew its position in Provident Bancorp by 51.6% in the 3rd quarter. Barclays PLC now owns 26,192 shares of the bank's stock valued at $283,000 after buying an additional 8,911 shares during the last quarter. Fourthstone LLC purchased a new position in Provident Bancorp in the 4th quarter valued at $498,000. Finally, Charles Schwab Investment Management Inc. grew its position in Provident Bancorp by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,932 shares of the bank's stock valued at $524,000 after buying an additional 2,815 shares during the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.

Provident Bancorp Stock Performance

NASDAQ:PVBC traded up $0.02 during midday trading on Friday, reaching $11.26. The stock had a trading volume of 42,200 shares, compared to its average volume of 43,479. Provident Bancorp Inc has a 12-month low of $9.09 and a 12-month high of $12.96. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $11.23 and a two-hundred day simple moving average of $11.44. The stock has a market cap of $200.30 million, a P/E ratio of 26.19 and a beta of 0.25.

Provident Bancorp (NASDAQ:PVBC - Get Free Report) last released its earnings results on Friday, April 25th. The bank reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. The business had revenue of $14.26 million during the quarter, compared to analyst estimates of $14.90 million. On average, equities analysts expect that Provident Bancorp Inc will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their price objective on shares of Provident Bancorp from $13.00 to $12.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th.

Provident Bancorp 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.