Provident Bancorp (NASDAQ:PVBC) Stock Passes Below 50-Day Moving Average of $9.94

Shares of Provident Bancorp Inc (NASDAQ:PVBC) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.94 and traded as low as $8.61. Provident Bancorp shares last traded at $8.61, with a volume of 79,574 shares changing hands.

Provident Bancorp Trading Down 1.5 %

The company has a market cap of $152.31 million, a PE ratio of 12.85 and a beta of 0.52. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $9.85.

Provident Bancorp (NASDAQ:PVBC) last announced its earnings results on Thursday, January 25th. The bank reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $15.21 million for the quarter. Provident Bancorp had a return on equity of 5.10% and a net margin of 11.25%. On average, analysts predict that Provident Bancorp Inc will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Bancorp

Several institutional investors have recently modified their holdings of PVBC. Stilwell Value LLC grew its stake in shares of Provident Bancorp by 512.2% in the first quarter. Stilwell Value LLC now owns 745,877 shares of the bank’s stock worth $5,102,000 after acquiring an additional 624,042 shares in the last quarter. Millennium Management LLC grew its stake in shares of Provident Bancorp by 589.2% during the fourth quarter. Millennium Management LLC now owns 239,881 shares of the bank’s stock worth $1,746,000 after purchasing an additional 205,074 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Provident Bancorp during the second quarter worth $824,000. Renaissance Technologies LLC grew its stake in shares of Provident Bancorp by 99.3% during the fourth quarter. Renaissance Technologies LLC now owns 199,072 shares of the bank’s stock worth $1,449,000 after purchasing an additional 99,192 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Provident Bancorp during the fourth quarter worth $616,000. 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.