Stilwell Value LLC Cuts Stock Holdings in Provident Bancorp Inc (NASDAQ:PVBC)

Stilwell Value LLC cut its stake in shares of Provident Bancorp Inc (NASDAQ:PVBC - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,706,467 shares of the bank's stock after selling 50,000 shares during the period. Provident Bancorp comprises approximately 14.8% of Stilwell Value LLC's investment portfolio, making the stock its 3rd biggest position. Stilwell Value LLC owned approximately 9.62% of Provident Bancorp worth $19,454,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in Provident Bancorp by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,484 shares of the bank's stock worth $108,000 after purchasing an additional 1,824 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Provident Bancorp during the fourth quarter worth about $162,000. Barclays PLC increased its stake in shares of Provident Bancorp by 51.6% in the third 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 period. Fourthstone LLC bought a new position in Provident Bancorp in the 4th quarter valued at approximately $498,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Provident Bancorp by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,932 shares of the bank's stock worth $524,000 after buying an additional 2,815 shares during the period. 74.61% of the stock is currently owned by institutional investors.

Provident Bancorp Trading Down 2.8 %

NASDAQ PVBC traded down $0.32 on Friday, hitting $11.28. The company's stock had a trading volume of 17,355 shares, compared to its average volume of 44,262. The company's 50-day moving average is $11.46 and its 200 day moving average is $11.37. The firm has a market cap of $200.66 million, a PE ratio of 26.23 and a beta of 0.30. Provident Bancorp Inc has a 1-year low of $8.57 and a 1-year 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.

Provident Bancorp (NASDAQ:PVBC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). The company had revenue of $14.26 million during the quarter, compared to analyst estimates of $14.90 million. Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. As a group, analysts predict that Provident Bancorp Inc will post 0.43 earnings per share for the current fiscal year.

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.