Provident Bancorp (NASDAQ:PVBC) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Provident Bancorp Inc (NASDAQ:PVBC)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.89 and traded as low as $11.32. Provident Bancorp shares last traded at $11.48, with a volume of 16,618 shares.

Provident Bancorp Trading Up 0.3 %

The firm has a 50-day moving average price of $11.91 and a 200 day moving average price of $11.33. 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 company has a market cap of $204.43 million, a price-to-earnings ratio of 26.81 and a beta of 0.30.

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, beating the consensus estimate of $0.05 by $0.24. Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. As a group, sell-side analysts forecast that Provident Bancorp Inc will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Provident Bancorp

Several large investors have recently bought and sold shares of PVBC. JPMorgan Chase & Co. grew its holdings in shares of Provident Bancorp by 165.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank’s stock worth $545,000 after acquiring an additional 31,535 shares during the last quarter. Barclays PLC boosted its holdings in shares of Provident Bancorp by 51.6% during the 3rd quarter. Barclays PLC now owns 26,192 shares of the bank’s stock worth $283,000 after buying an additional 8,911 shares during the period. State Street Corp grew its holdings in Provident Bancorp by 3.9% in the 3rd quarter. State Street Corp now owns 180,816 shares of the bank’s stock valued at $1,951,000 after buying an additional 6,864 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in Provident Bancorp in the 4th quarter worth $1,053,000. Finally, Geode Capital Management LLC grew its holdings in shares of Provident Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 371,738 shares of the bank’s stock worth $4,012,000 after purchasing an additional 6,078 shares in the last quarter. Institutional investors and hedge funds own 74.61% 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.