Barclays PLC Acquires 8,911 Shares of Provident Bancorp Inc (NASDAQ:PVBC)

Barclays PLC grew its holdings in Provident Bancorp Inc (NASDAQ:PVBC) by 51.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,192 shares of the bank’s stock after purchasing an additional 8,911 shares during the period. Barclays PLC owned approximately 0.15% of Provident Bancorp worth $283,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Provident Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 371,738 shares of the bank’s stock valued at $4,012,000 after acquiring an additional 6,078 shares during the period. State Street Corp grew its position in shares of Provident Bancorp by 3.9% in the third quarter. State Street Corp now owns 180,816 shares of the bank’s stock valued at $1,951,000 after purchasing an additional 6,864 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Provident Bancorp by 129.1% in the third quarter. MetLife Investment Management LLC now owns 9,188 shares of the bank’s stock valued at $99,000 after purchasing an additional 5,177 shares in the last quarter. Pallas Capital Advisors LLC raised its stake 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 valued at $973,000 after purchasing an additional 57,392 shares during the period. Finally, Nvest Financial LLC purchased a new stake in Provident Bancorp during the 3rd quarter worth about $166,000. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens lifted their target price on 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 Stock Performance

Provident Bancorp stock opened at $10.87 on Tuesday. Provident Bancorp Inc has a 1-year low of $7.36 and a 1-year high of $12.32. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $192.73 million, a PE ratio of 33.97 and a beta of 0.48. The firm’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $10.89.

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.