Provident Bancorp, Inc. (NASDAQ:PVBC - Get Free Report) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.56 and traded as high as $12.83. Provident Bancorp shares last traded at $12.74, with a volume of 111,900 shares changing hands.
Analyst Ratings Changes
Separately, Stephens decreased their target price on Provident Bancorp from $13.00 to $12.50 and set an "equal weight" rating for the company in a research report on Thursday, May 8th.
Read Our Latest Stock Analysis on Provident Bancorp
Provident Bancorp Stock Up 0.9%
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $11.55. The company has a market capitalization of $227.36 million, a price-to-earnings ratio of 49.16 and a beta of 0.31.
Provident Bancorp (NASDAQ:PVBC - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The bank reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $14.26 million during the quarter, compared to analyst estimates of $14.90 million. Provident Bancorp had a net margin of 4.75% and a return on equity of 1.95%. As a group, equities analysts predict that Provident Bancorp, Inc. will post 0.43 EPS for the current year.
Hedge Funds Weigh In On Provident Bancorp
Several hedge funds have recently bought and sold shares of PVBC. Alliancebernstein L.P. increased its stake in Provident Bancorp by 30.2% in the 4th quarter. Alliancebernstein L.P. now owns 502,431 shares of the bank's stock valued at $5,728,000 after purchasing an additional 116,616 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Provident Bancorp by 15.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 412,215 shares of the bank's stock valued at $4,699,000 after purchasing an additional 55,174 shares during the period. Fourthstone LLC purchased a new stake in shares of Provident Bancorp in the fourth quarter valued at $498,000. Kennedy Capital Management LLC grew its position in shares of Provident Bancorp by 10.3% in the fourth quarter. Kennedy Capital Management LLC now owns 450,738 shares of the bank's stock valued at $5,138,000 after purchasing an additional 42,226 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Provident Bancorp by 45.7% during the fourth quarter. JPMorgan Chase & Co. now owns 73,644 shares of the bank's stock valued at $840,000 after acquiring an additional 23,090 shares during the period. 74.61% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
