LPL Financial LLC Invests $292,000 in Provident Bancorp Inc (NASDAQ:PVBC)

LPL Financial LLC acquired a new stake in shares of Provident Bancorp Inc (NASDAQ:PVBC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,450 shares of the bank’s stock, valued at approximately $292,000. LPL Financial LLC owned about 0.14% of Provident Bancorp at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PVBC. Ramsey Quantitative Systems boosted its stake in shares of Provident Bancorp by 118.0% during the 4th quarter. Ramsey Quantitative Systems now owns 1,986 shares of the bank’s stock worth $43,000 after acquiring an additional 1,075 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Provident Bancorp by 53.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 44,217 shares of the bank’s stock worth $1,280,000 after acquiring an additional 15,457 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Provident Bancorp by 41.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 48,955 shares of the bank’s stock worth $1,061,000 after acquiring an additional 14,260 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Provident Bancorp by 1.2% during the 3rd quarter. BlackRock Inc. now owns 213,241 shares of the bank’s stock worth $6,174,000 after acquiring an additional 2,630 shares in the last quarter. 21.78% of the stock is currently owned by institutional investors.

Separately, ValuEngine lowered shares of Provident Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th.

PVBC opened at $22.76 on Tuesday. Provident Bancorp Inc has a twelve month low of $19.81 and a twelve month high of $30.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $218.99 million, a P/E ratio of 22.35 and a beta of 0.70.

Provident Bancorp (NASDAQ:PVBC) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $10.83 million during the quarter. Provident Bancorp had a net margin of 20.05% and a return on equity of 7.69%.

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Provident Bancorp Company Profile

Provident Bancorp, Inc is a Massachusetts corporation that was formed in 2011 by The Provident Bank to be its holding company. Approximately 52.1% of Provident Bancorp, Inc outstanding shares are owned by Provident Bancorp, a Massachusetts corporation and a mutual holding company. The Provident Bank, a subsidiary of Provident Bancorp, Inc, is an innovative, commercial bank that finds solutions for business and private clients.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Provident Bancorp (NASDAQ:PVBC)

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