Nisa Investment Advisors LLC acquired a new position in shares of Provident Bancorp Inc (NASDAQ:PVBC – Get Rating ) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,048 shares of the bank’s stock, valued at approximately $131,000. Nisa Investment Advisors LLC owned approximately 0.10% of Provident Bancorp as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Provident Bancorp by 332.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,415 shares of the bank’s stock valued at $49,000 after purchasing an additional 2,626 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new position in Provident Bancorp in the third quarter valued at $57,000. MetLife Investment Management LLC boosted its holdings in Provident Bancorp by 57.0% in the first quarter. MetLife Investment Management LLC now owns 8,833 shares of the bank’s stock valued at $143,000 after buying an additional 3,207 shares during the last quarter. Invest Financial LLC acquired a new position in Provident Bancorp in the 4th quarter valued at $165,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Provident Bancorp by 11.0% in the first quarter. Goldman Sachs Group Inc. now owns 18,082 shares of the bank’s stock valued at $293,000 after buying an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 47.99% of the company’s shares.
Wall Street analysts forecast growth
Separately, TheStreet downgraded Provident Bancorp from a “c” rating to a “d” rating in a research note on Tuesday, January 17th.
Shares of Provident Bancorp fell 4.9%
Shares of PVBC stock opened at $6.83 on Monday. The business’s fifty day moving average is $7.70 and the 200 day moving average is $8.56. The company has a market cap of $120.82 million, a P/E ratio of -5.10 and a beta of 0.69. Provident Bancorp Inc has a twelve month low of $6.10 and a twelve month high of $16.74.
Provident Bancorp (NASDAQ:PVBC – Get Rating ) last posted its quarterly earnings results on Friday, January 27th. The bank reported $0.16 earnings per share for the quarter. The company had revenue of $20.68 million during the quarter. analysts anticipate that Provident Bancorp Inc will post 0.8 earnings per share for the current fiscal year.
About Provident Bancorp
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Provident Bancorp, Inc is a Maryland corporation formed in 2019 to be the successor corporation to Provident Bancorp, Inc, a Massachusetts corporation, and the holding company for The Provident Bank. Provident Bank, a subsidiary of Provident Bancorp, Inc, is an innovative commercial bank that finds solutions for its business and personal customers.
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