92,350 Shares in Provident Bancorp Inc (NASDAQ:PVBC) Bought by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC bought a new stake in Provident Bancorp Inc (NASDAQ:PVBC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 92,350 shares of the bank’s stock, valued at approximately $1,053,000. Provident Bancorp comprises 0.7% of Four Tree Island Advisory LLC’s portfolio, making the stock its 15th largest position. Four Tree Island Advisory LLC owned about 0.52% of Provident Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PVBC. JPMorgan Chase & Co. grew its holdings in shares of Provident Bancorp by 165.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank’s stock valued at $545,000 after purchasing an additional 31,535 shares during the last quarter. Barclays PLC boosted its position in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Provident Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 371,738 shares of the bank’s stock worth $4,012,000 after buying an additional 6,078 shares during the last quarter. State Street Corp increased its holdings 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 buying an additional 6,864 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Provident Bancorp by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank’s stock valued at $99,000 after acquiring an additional 5,177 shares during the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens upped their target price on Provident Bancorp from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th.

Provident Bancorp Stock Down 0.5 %

Shares of NASDAQ PVBC opened at $12.43 on Monday. The company has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $10.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 1.09. Provident Bancorp Inc has a 1 year low of $7.36 and a 1 year high of $12.60. The firm has a market cap of $220.38 million, a PE ratio of 28.91 and a beta of 0.48.

Provident Bancorp (NASDAQ:PVBC) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share (EPS) 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%. On average, research analysts forecast that Provident Bancorp Inc will post 0.43 EPS for the current year.

Provident Bancorp 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.