Geode Capital Management LLC lifted its holdings in shares of Provident Bancorp Inc (NASDAQ:PVBC – Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,738 shares of the bank’s stock after purchasing an additional 6,078 shares during the period. Geode Capital Management LLC owned about 2.10% of Provident Bancorp worth $4,012,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Pallas Capital Advisors LLC increased its position in Provident Bancorp by 174.3% during the third quarter. Pallas Capital Advisors LLC now owns 90,314 shares of the bank’s stock worth $973,000 after buying an additional 57,392 shares in the last quarter. State Street Corp boosted its stake in shares of Provident Bancorp by 3.9% during the third quarter. State Street Corp now owns 180,816 shares of the bank’s stock valued at $1,951,000 after acquiring an additional 6,864 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 37,151 shares in the last quarter. Marshall Wace LLP raised its stake in 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. Finally, Dimensional Fund Advisors LP lifted its holdings in Provident Bancorp by 16.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,437 shares of the bank’s stock valued at $3,418,000 after purchasing an additional 46,964 shares in the last quarter. 74.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Stephens lifted their price target on shares of 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 Trading Down 0.3 %
Shares of PVBC opened at $11.12 on Monday. 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 market capitalization of $197.16 million, a PE ratio of 34.75 and a beta of 0.48. The stock has a fifty day moving average of $11.30 and a two-hundred day moving average of $10.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09.
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.
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