After grabbing 1.67 million shares, the institutional investor is now in possession of 1.67 million shares of the Financial Company. The new investment brought the stake of investor firm to 9.45% having worth around $12.19 million. Moreover, M3F, Inc. increased its share by 0.21 million to have a control over 1.01 million shares. And Kennedy Capital Management, Inc. raised its holdings to 3924.0 shares by acquiring 0.3 million shares or 1.68% of the stake.
Provident Bancorp Inc. (PVBC) concluded trading on 01/19/23 at a closing price of $8.05, with 0.16 million shares of worth about $1.29 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -48.00% during that period and on Thursday the price saw a gain of about 3.07%. Currently the company’s common shares owned by public are about 16.46M shares, out of which, 14.56M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 87,510 shares in 7 of the transactions. In 3 selling transactions, insiders dumped 66,090 shares.
T Rowe Price Small Cap Value Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Provident Bancorp Inc. T Rowe Price Small Cap Value Fund is currently holding 1.18 million shares of worth totaling $8.62 million. The company recently came selling 4800.0 shares which brought its stake up to 6.68% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 35580.0 shares, after which its hold over company’s outstanding shares expand to 2.66%, leaving 0.47 million shares with the mutual fund that have a worth of about $3.43 million. iShares Russell 2000 ETF, after selling 0.35 million shares, have now control over 1.95% of the stake in the company. It holds 3599.0 shares of worth $2.51 million.
Provident Bancorp Inc. (NASDAQ: PVBC) started trading at $7.87, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 8.16, or with a gain of 3.07%. Stock saw a price change of 11.81% in past 5 days and over the past one month there was a price change of 11.03%. Year-to-date (YTD), PVBC shares are showing a performance of 10.58% which decreased to -56.65% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.10 but also hit the highest price of $18.91 during that period. The average intraday trading volume for Provident Bancorp Inc. shares is 155.03K. The stock is currently trading 9.70% above its 20-day simple moving average (SMA20), while that difference is up 1.49% for SMA50 and it goes to -38.95% lower than SMA200.
T. Rowe Price Investment Manageme acquired 1.67 million shares of Provident Bancorp Inc. having value of about $12.19 million. Provident Bancorp Inc. (NASDAQ: PVBC) currently have 16.46M outstanding shares and institutions hold larger chunk of about 44.10% of that. Holding of mutual funds in the company is about 21.84% while other institutional holders and individual stake holders have control over 5.73% and 21.01% of the stake respectively.
The stock has a current market capitalization of $142.81M and its 3Y-monthly beta is at 0.64. PE ratio of stock for trailing 12 months is 6.93, while it has posted earnings per share of $1.16 in the same period. It has a debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PVBC, volatility over the week remained 4.37% while standing at 4.04% over the month.
Analysts are in expectations that Provident Bancorp Inc. (PVBC) stock would likely to be making an EPS of $0.28 in the current quarter, while forecast for next quarter EPS is $0.3 and it is $1.55 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.28 which is $0.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 41.10% while it is estimated to increase by 26.00% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on November 16, 2022 offering an Equal-weight rating for the stock and assigned a target price range of between $18 and $12 to it. Coverage by Stephens stated Provident Bancorp Inc. (PVBC) stock as an Overweight in their note to investors on March 29, 2022, suggesting a price target of $20 for the stock. On April 26, 2021, Piper Sandler Upgrade their recommendations, while on September 10, 2020, Piper Sandler Initiated their ratings for the stock with a price target of $8.50. Stock get a Neutral rating from Compass Point on March 04, 2020.