Corient Private Wealth LLC Invests $162,000 in Provident Bancorp Inc (NASDAQ:PVBC)

Corient Private Wealth 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 & Exchange Commission. The firm bought 14,218 shares of the bank’s stock, valued at approximately $162,000.

Other institutional investors have also recently added to or reduced their stakes in the company. 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. Barclays PLC grew its holdings in shares of Provident Bancorp by 51.6% during the 3rd quarter. Barclays PLC now owns 26,192 shares of the bank’s stock worth $283,000 after purchasing an additional 8,911 shares during the period. Charles Schwab Investment Management Inc. increased its position in Provident Bancorp by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,932 shares of the bank’s stock worth $524,000 after purchasing an additional 2,815 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Provident Bancorp by 165.8% in the third quarter. JPMorgan Chase & Co. now owns 50,554 shares of the bank’s stock valued at $545,000 after buying an additional 31,535 shares during the period. Finally, Four Tree Island Advisory LLC purchased a new position in Provident Bancorp in the fourth quarter valued at approximately $1,053,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Provident Bancorp Price Performance

PVBC opened at $11.49 on Wednesday. Provident Bancorp Inc has a 52-week low of $7.36 and a 52-week high of $12.96. The company has a 50 day moving average of $11.90 and a two-hundred day moving average of $11.33. The company has a market cap of $203.72 million, a P/E ratio of 26.72 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04.

Provident Bancorp (NASDAQ:PVBC) last posted its earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share 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, analysts expect that Provident Bancorp Inc will post 0.43 earnings per share for the current year.

Provident Bancorp Company 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.