(NASDAQ:PVBC) shares saw heavy trading volume with 6,172 shares changing hands on Tuesday. Overall, volume was up 109.93% over the stocks normal daily volume.
Traders are feeling more bullish recently as evidenced by the downtick in short interest. The firm realized a fall in short interest between September 29, 2017 and October 13, 2017 of -8.12%. Short interest fell from 57,199 to 52,555 over that period. The short-interest ratio increased to 12.0 and the short interest percentage is 0.01% as of October 13.
These funds have shifted positions in (PVBC). As of quarter end Tower Research Capital LLC (trc) had acquired 375 shares growing its holdings by 375.0%. The value of the investment in (PVBC) increased from $2,000 to $11,000 a change of $9,000 quarter over quarter. As of the end of the quarter Spark Investment Management LLC had sold a total of 1,200 shares trimming its stake by 7.8%. The value of the investment in PVBC went from $322,000 to $319,000 a change of 0.9% since the last quarter.
As of quarter end Fj Capital Management LLC had disposed of 900 shares trimming its position 1.9%. The value of the investment in Provident Bancorp, Inc. increased from $999,000 to $1,054,000 increasing 5.5% for the reporting period. Acadian Asset Management LLC divested its ownership by selling 450 shares a decrease of 26.8% from 06/30/2017 to 09/30/2017. Acadian Asset Management LLC claims 1,226 shares worth $28,000. The value of the position overall is down by 26.3%.
The company is trading up from yesterday’s close of $23.70. The stock is trading at $23.70 a bit higher than $22.75, the stock’s 50 day moving average and just a bit higher than the 200 day moving average of $21.66. The 50 day moving average was up $0.95 or +4.17% and the 200 day average moved up $2.04.
Provident Bancorp, Inc. currently has a P/E ratio of 31.60 and the market cap of the company is 217.59M.
Provident Bancorp, Inc., launched on August 25, 2011, is the holding company of The Provident Bank. The Provident Bank is a community bank that serves the banking needs of its customers. The Provident Bank operates from its main office and over two branch offices in the Northeastern Massachusetts area and over four branch offices in Southeastern New Hampshire, and one branch is located in Bedford, New Hampshire. The Bank also has a loan production office in Nashua, New Hampshire. Its primary lending area encompasses Northeastern Massachusetts and Southern New Hampshire, with a focus on Essex County, Massachusetts, and Hillsborough and Rockingham Counties, New Hampshire. Its primary deposit-gathering area is concentrated in Essex County, Massachusetts, Rockingham County, New Hampshire, and Hillsborough County, New Hampshire. The Bank attracts deposits from the general public and uses those funds to originate primarily loans, primarily commercial real estate, construction and land development and commercial business loans, and to invest in securities. The Provident Bank’s subsidiaries include Provident Security Corporation, which is established to buy, sell, and hold investments for its own account, and 5 Market Street Security Corporation, which is established to buy, sell, and hold investments for its own account..