Provident Bancorp (NASDAQ:PVBC) Stock Passes Below Fifty Day Moving Average – Should You Sell?

Provident Bancorp Inc (NASDAQ:PVBC) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 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 changing hands.

Provident Bancorp Stock Up 0.3 %

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 company has a market capitalization of $204.43 million, a price-to-earnings ratio of 26.81 and a beta of 0.30. The business has a 50-day simple moving average of $11.91 and a two-hundred day simple moving average of $11.33.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PVBC. Nuveen Asset Management LLC increased its position in Provident Bancorp by 7.1% during the 4th quarter. Nuveen Asset Management LLC now owns 22,549 shares of the bank’s stock worth $257,000 after purchasing an additional 1,489 shares in the last quarter. Northern Trust Corp increased its position in Provident Bancorp by 1.2% during the 4th quarter. Northern Trust Corp now owns 128,754 shares of the bank’s stock worth $1,468,000 after purchasing an additional 1,508 shares in the last quarter. Geode Capital Management LLC boosted its position in Provident Bancorp by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 373,317 shares of the bank’s stock worth $4,256,000 after purchasing an additional 1,579 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Provident Bancorp by 23.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,484 shares of the bank’s stock valued at $108,000 after buying an additional 1,824 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Provident Bancorp by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 45,932 shares of the bank’s stock valued at $524,000 after purchasing an additional 2,815 shares during the period. Institutional investors and hedge funds own 74.61% of the company’s stock.

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.