Charles Schwab Investment Management Inc. Purchases 2,815 Shares of Provident Bancorp Inc (NASDAQ:PVBC)

Charles Schwab Investment Management Inc. raised its holdings in shares of Provident Bancorp Inc (NASDAQ:PVBC) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,932 shares of the bank’s stock after purchasing an additional 2,815 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Provident Bancorp worth $524,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of 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 acquiring an additional 5,177 shares during the last quarter. Geode Capital Management LLC increased 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 worth $4,012,000 after purchasing an additional 6,078 shares in the last quarter. State Street Corp raised its stake 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 worth $1,951,000 after purchasing an additional 6,864 shares during the last quarter. Barclays PLC raised its stake 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 purchasing an additional 8,911 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 31,535 shares in the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

Provident Bancorp Price Performance

Shares of NASDAQ:PVBC opened at $11.48 on Tuesday. 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 stock has a market cap of $203.54 million, a PE ratio of 26.70 and a beta of 0.45. The stock’s fifty day simple moving average is $11.89 and its two-hundred day simple moving average is $11.32. Provident Bancorp Inc has a 1-year low of $7.36 and a 1-year high of $12.96.

Provident Bancorp (NASDAQ:PVBC) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.24. Provident Bancorp had a net margin of 7.62% and a return on equity of 3.22%. As a group, analysts forecast that Provident Bancorp Inc will post 0.43 EPS for the current fiscal year.

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.