STILWELL JOSEPH Acquires Provident Bancorp Inc Shares
On September 21, 2023, STILWELL JOSEPH (Trades, Portfolio), a New York-based investment firm, added 300 shares of Provident Bancorp Inc (NASDAQ:PVBC) to its portfolio. The transaction, executed at a trade price of $9.62 per share, increased the firm's total holdings in PVBC to 1,809,255 shares. Despite the addition, the trade had no significant impact on the firm's portfolio, with PVBC accounting for 10.23% of the firm's holdings.
About STILWELL JOSEPH (Trades, Portfolio)
STILWELL JOSEPH (Trades, Portfolio) is an investment firm located at 111 Broadway, 12th Floor, New York, NY 10006. The firm manages an equity portfolio worth $173 million, spread across 53 stocks. Its top holdings are primarily in the Financial Services and Consumer Cyclical sectors. The firm's investment philosophy is not publicly disclosed.
Provident Bancorp Inc Overview
Provident Bancorp Inc (NASDAQ:PVBC), a USA-based company, provides a range of banking products and services to small and medium-sized commercial customers. The company, which operates as a single segment, attracts deposits from the general public and uses those funds to originate various types of loans and to invest in securities. As of September 23, 2023, the company has a market cap of $176.503 million and its stock is trading at $9.98 per share. According to GuruFocus, the stock is significantly undervalued with a GF Value of $18.11 and a Price to GF Value ratio of 0.55.
Financial Health and Performance of PVBC
Provident Bancorp Inc has a Financial Strength rank of 4/10, a Profitability Rank of 5/10, and a Growth Rank of 5/10. The company's cash to debt ratio is 3.55, ranking 371st in the Banks industry. However, the company's ROE and ROA are -12.55 and -1.56 respectively, ranking 1429th and 1428th in the industry. The company's Piotroski F-Score is 4, indicating average financial health.
Momentum and Predictability of PVBC
Provident Bancorp Inc's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 61.52, 56.78, and 55.93 respectively. The company's momentum index 6 - 1 month is 20.36, ranking 268th, while its momentum index 12 - 1 month is -35.24. The company's predictability rank is not available due to insufficient data.
Provident Bancorp Inc's Growth Over the Years
Over the past three years, Provident Bancorp Inc has seen a revenue growth of 22.80%, ranking 106th in the industry. However, the company's EBITDA growth and earning growth over the same period are not available due to insufficient data. Since its IPO on January 8, 1999, the company's stock has declined by 18.53%. However, year-to-date, the stock has gained 37.28%.
Conclusion
In conclusion, STILWELL JOSEPH (Trades, Portfolio)'s recent acquisition of Provident Bancorp Inc shares is a strategic move that aligns with the firm's investment philosophy. Despite the company's average financial health and performance, its undervalued status and positive year-to-date gain make it a potentially profitable investment. However, investors should keep an eye on the company's growth and profitability ranks, as well as its momentum and predictability, to make informed investment decisions.
This article first appeared on GuruFocus.
