Provident Bancorp (NASDAQ:PVBC) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Provident Bancorp Inc (NASDAQ:PVBC) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.79 and traded as high as $11.90. Provident Bancorp shares last traded at $11.47, with a volume of 63,688 shares traded.

Provident Bancorp Trading Down 1.5 %

The stock has a 50 day simple moving average of $11.79 and a 200-day simple moving average of $11.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a market cap of $203.36 million, a P/E ratio of 26.67 and a beta of 0.45.

Provident Bancorp (NASDAQ:PVBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.24. Provident Bancorp had a return on equity of 3.22% and a net margin of 7.62%. On average, equities research analysts expect that Provident Bancorp Inc will post 0.43 EPS for the current fiscal year.

Institutional Trading of Provident Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Provident Bancorp by 30.2% during the fourth quarter. Alliancebernstein L.P. now owns 502,431 shares of the bank’s stock valued at $5,728,000 after buying an additional 116,616 shares during the last quarter. Kennedy Capital Management LLC grew its position in Provident Bancorp by 10.3% in the 4th quarter. Kennedy Capital Management LLC now owns 450,738 shares of the bank’s stock valued at $5,138,000 after acquiring an additional 42,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Provident Bancorp by 15.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 412,215 shares of the bank’s stock valued at $4,699,000 after acquiring an additional 55,174 shares during the last quarter. Geode Capital Management LLC increased its stake in Provident Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 373,317 shares of the bank’s stock worth $4,256,000 after purchasing an additional 1,579 shares during the period. Finally, State Street Corp lifted its position in shares of Provident Bancorp by 3.9% during the third quarter. State Street Corp now owns 180,816 shares of the bank’s stock worth $1,951,000 after purchasing an additional 6,864 shares during the last quarter. Institutional investors own 74.61% of the company’s stock.

About Provident Bancorp

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.