Barclays PLC Boosts Holdings in Provident Bancorp Inc (NASDAQ:PVBC)

Barclays PLC increased its holdings in Provident Bancorp Inc (NASDAQ:PVBC) by 51.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,192 shares of the bank’s stock after purchasing an additional 8,911 shares during the period. Barclays PLC’s holdings in Provident Bancorp were worth $283,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PVBC. Pallas Capital Advisors LLC raised its holdings in shares of Provident Bancorp by 174.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 90,314 shares of the bank’s stock worth $973,000 after acquiring an additional 57,392 shares in the last quarter. State Street Corp raised its holdings in shares of Provident Bancorp by 3.9% during the 3rd quarter. State Street Corp now owns 180,816 shares of the bank’s stock worth $1,951,000 after acquiring an additional 6,864 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Provident Bancorp by 135.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 64,524 shares of the bank’s stock worth $657,000 after acquiring an additional 37,151 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Provident Bancorp by 43.3% during the 2nd quarter. Marshall Wace LLP now owns 27,491 shares of the bank’s stock worth $280,000 after acquiring an additional 8,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Provident Bancorp by 16.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,437 shares of the bank’s stock worth $3,418,000 after acquiring an additional 46,964 shares in the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Provident Bancorp Stock Performance

NASDAQ PVBC opened at $11.12 on Monday. The company has a market cap of $197.16 million, a P/E ratio of 34.75 and a beta of 0.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50 day moving average price is $11.30 and its 200-day moving average price is $10.83. Provident Bancorp Inc has a fifty-two week low of $7.36 and a fifty-two week high of $12.32.

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.