Provident Bancorp Inc (NASDAQ:PVBC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Provident Bancorp Inc (NASDAQ:PVBC) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 371,738 shares of the bank’s stock after purchasing an additional 6,078 shares during the quarter. Geode Capital Management LLC’s holdings in Provident Bancorp were worth $4,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PVBC. MetLife Investment Management LLC raised its holdings 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 worth $99,000 after purchasing an additional 5,177 shares during the period. Nvest Financial LLC purchased a new position in Provident Bancorp in the third quarter valued at approximately $166,000. Rhumbline Advisers lifted its position in Provident Bancorp by 1,670.8% during the second quarter. Rhumbline Advisers now owns 18,328 shares of the bank’s stock valued at $187,000 after buying an additional 17,293 shares in the last quarter. Squarepoint Ops LLC grew its stake in Provident Bancorp by 14.7% during the second quarter. Squarepoint Ops LLC now owns 21,278 shares of the bank’s stock worth $217,000 after buying an additional 2,728 shares during the period. Finally, Barclays PLC increased its position in shares of Provident Bancorp by 51.6% in the third quarter. Barclays PLC now owns 26,192 shares of the bank’s stock worth $283,000 after acquiring an additional 8,911 shares in the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Analyst Ratings Changes

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

Provident Bancorp Price Performance

Shares of NASDAQ PVBC opened at $11.12 on Monday. 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 $12.32. The company has a market capitalization of $197.16 million, a price-to-earnings ratio of 34.75 and a beta of 0.48. The business has a 50-day moving average of $11.30 and a 200-day moving average of $10.83.

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.