Provident Bancorp Inc (NASDAQ:PVBC) CFO Kenneth R. Fisher Purchases 5,000 Shares

Provident Bancorp Inc (NASDAQ:PVBC) CFO Kenneth R. Fisher bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $9.61 per share, for a total transaction of $48,050.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $48,050. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Provident Bancorp Trading Up 1.8 %

Shares of Provident Bancorp stock traded up $0.17 during trading hours on Monday, hitting $9.77. The company’s stock had a trading volume of 19,193 shares, compared to its average volume of 38,765. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $172.54 million, a PE ratio of 11.43 and a beta of 0.51. The business has a fifty day moving average of $9.13 and a 200 day moving average of $9.66. Provident Bancorp Inc has a 1-year low of $7.36 and a 1-year high of $11.52.

Provident Bancorp (NASDAQ:PVBC) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $13.84 million during the quarter. Provident Bancorp had a return on equity of 6.27% and a net margin of 14.09%. As a group, equities analysts forecast that Provident Bancorp Inc will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Stephens reaffirmed an “equal weight” rating and issued a $11.00 price objective on shares of Provident Bancorp in a research note on Monday, May 13th.

Institutional Investors Weigh In On Provident Bancorp

Several hedge funds have recently modified their holdings of PVBC. Barclays PLC acquired a new stake in Provident Bancorp in the third quarter valued at approximately $44,000. Citigroup Inc. purchased a new position in shares of Provident Bancorp in the third quarter valued at $243,000. Empowered Funds LLC grew its holdings in Provident Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 35,380 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,625 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Provident Bancorp by 5.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 198,690 shares of the bank’s stock worth $1,925,000 after buying an additional 9,468 shares during the period. Finally, Stilwell Value LLC lifted its holdings in Provident Bancorp by 8.2% in the 3rd quarter. Stilwell Value LLC now owns 1,820,866 shares of the bank’s stock worth $17,644,000 after buying an additional 138,274 shares in the last quarter. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

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.