Provident Bancorp (NASDAQ:PVBC) Shares Pass Below 50 Day Moving Average – Should You Sell?

Provident Bancorp Inc (NASDAQ:PVBC) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.89 and traded as low as $11.32. Provident Bancorp shares last traded at $11.48, with a volume of 16,618 shares traded.

Provident Bancorp Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day moving average of $11.89 and a 200-day moving average of $11.32. The firm has a market capitalization of $203.54 million, a P/E ratio of 26.70 and a beta of 0.45.

Provident Bancorp (NASDAQ:PVBC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.29 EPS for the quarter, topping 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, equities research analysts anticipate that Provident Bancorp Inc will post 0.43 EPS for the current fiscal year.

Institutional Trading of Provident Bancorp

A number of institutional investors have recently modified their holdings of PVBC. Alliancebernstein L.P. boosted its holdings in Provident Bancorp by 30.2% in the fourth quarter. Alliancebernstein L.P. now owns 502,431 shares of the bank’s stock valued at $5,728,000 after acquiring an additional 116,616 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Provident Bancorp by 10.3% during the 4th quarter. Kennedy Capital Management LLC now owns 450,738 shares of the bank’s stock valued at $5,138,000 after purchasing an additional 42,226 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Provident Bancorp by 15.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 412,215 shares of the bank’s stock valued at $4,699,000 after buying an additional 55,174 shares during the period. Geode Capital Management LLC raised its stake in Provident Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 373,317 shares of the bank’s stock worth $4,256,000 after buying an additional 1,579 shares in the last quarter. Finally, State Street Corp lifted its holdings in 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 buying an additional 6,864 shares during the period. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

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.