BHZ Capital Management LP Sells 108,643 Shares of Provident Bancorp Inc (NASDAQ:PVBC)

BHZ Capital Management LP decreased its stake in Provident Bancorp Inc (NASDAQ:PVBC) by 44.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,115 shares of the bank’s stock after selling 108,643 shares during the period. Provident Bancorp accounts for about 0.7% of BHZ Capital Management LP’s holdings, making the stock its 25th biggest position. BHZ Capital Management LP owned about 0.78% of Provident Bancorp worth $1,381,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PVBC. Stilwell Value LLC raised its stake in Provident Bancorp by 0.6% in the 4th quarter. Stilwell Value LLC now owns 1,831,467 shares of the bank’s stock valued at $18,443,000 after acquiring an additional 10,601 shares during the period. Kennedy Capital Management LLC raised its position in shares of Provident Bancorp by 5.0% in the third quarter. Kennedy Capital Management LLC now owns 198,690 shares of the bank’s stock valued at $1,925,000 after purchasing an additional 9,468 shares during the period. Citigroup Inc. bought a new stake in shares of Provident Bancorp in the third quarter valued at approximately $243,000. Finally, Barclays PLC purchased a new stake in shares of Provident Bancorp during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Joseph Stilwell sold 75,000 shares of Provident Bancorp stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $9.62, for a total transaction of $721,500.00. Following the completion of the sale, the insider now owns 271,014 shares in the company, valued at approximately $2,607,154.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Joseph Stilwell sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $9.62, for a total value of $721,500.00. Following the sale, the insider now directly owns 271,014 shares of the company’s stock, valued at $2,607,154.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Pollack purchased 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average cost of $9.92 per share, with a total value of $99,200.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $99,200. The disclosure for this purchase can be found here. Corporate insiders own 3.88% of the company’s stock.

Provident Bancorp Stock Up 0.8 %

PVBC stock opened at $9.84 on Thursday. Provident Bancorp Inc has a twelve month low of $7.36 and a twelve month high of $11.52. The firm has a market capitalization of $173.77 million, a PE ratio of 11.71 and a beta of 0.51. 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 stock has a 50-day simple moving average of $9.10 and a two-hundred day simple moving average of $9.66.

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

Wall Street Analyst Weigh In

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

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.