Provident Bancorp Inc (NASDAQ:PVBC) Shares Purchased by State Street Corp

State Street Corp raised its position in Provident Bancorp Inc (NASDAQ:PVBC) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,816 shares of the bank’s stock after buying an additional 6,864 shares during the quarter. State Street Corp’s holdings in Provident Bancorp were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in shares of Provident Bancorp by 129.1% in the third quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank’s stock valued at $99,000 after buying an additional 5,177 shares during the last quarter. Nvest Financial LLC acquired a new position in Provident Bancorp in the 3rd quarter valued at about $166,000. Rhumbline Advisers raised its stake in Provident Bancorp by 1,670.8% during the 2nd quarter. Rhumbline Advisers now owns 18,328 shares of the bank’s stock valued at $187,000 after acquiring an additional 17,293 shares during the last quarter. Squarepoint Ops LLC lifted its position in Provident Bancorp by 14.7% during the 2nd quarter. Squarepoint Ops LLC now owns 21,278 shares of the bank’s stock worth $217,000 after acquiring an additional 2,728 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Provident Bancorp by 43.3% in the 2nd quarter. Marshall Wace LLP now owns 27,491 shares of the bank’s stock valued at $280,000 after purchasing an additional 8,307 shares during the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens increased their price target 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 Up 0.4 %

Shares of NASDAQ:PVBC opened at $11.40 on Thursday. Provident Bancorp Inc has a fifty-two week low of $7.36 and a fifty-two week high of $12.32. 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 firm’s 50-day simple moving average is $11.27 and its 200-day simple moving average is $10.81. The company has a market cap of $202.12 million, a price-to-earnings ratio of 35.63 and a beta of 0.48.

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.