Price Action To Observe: Time to Reconsider PROVIDENT BANCORP INC After Reaching All-Time High?

Price Action To Observe: Time to Reconsider PROVIDENT BANCORP INC After Reaching All Time High?

The stock of PROVIDENT BANCORP INC (NASDAQ:PVBC) reached all time high today, Nov, 24 and still has $19.40 target or 9.00% above today’s $17.80 share price. This indicates more upside for the $169.56M company. This technical setup was reported by Barchart.com. If the $19.40 PT is reached, the company will be worth $15.26M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.42% or $0.25 on November 23, hitting $17.8. About 12,778 shares traded hands or 114.36% up from the average. PROVIDENT BANCORP INC (NASDAQ:PVBC) has risen 27.51% since April 22, 2016 and is uptrending. It has outperformed by 22.10% the S&P500.

Analysts await PROVIDENT BANCORP INC (NASDAQ:PVBC) to report earnings on January, 19.

According to Zacks Investment Research, “Provident Bancorp, Inc. is a bank holding company of The Provident Bank. Its products and services consists of demand deposits, savings accounts, certificates of deposit, commercial checking, NOW, money market accounts, commercial real estate loans, multi-family residential real estate loans, commercial business loans, construction and land development loans, one-to four-family residential loans, home equity loans and lines of credit, consumer loans, debit cards and overdraft options. The company operates primarily in Amesbury and Newburyport, Massachusetts and Portsmouth, Exeter and Seabrook, New Hampshire. Provident Bancorp, Inc. is based in Amesbury, United States.”

More recent PROVIDENT BANCORP INC (NASDAQ:PVBC) news were published by: Prnewswire.com which released: “Provident Bancorp, Inc. Reports Earnings of the September 30, 2016 Quarter” on October 20, 2016. Also Prnewswire.com published the news titled: “Provident Bancorp, Inc. Announces Stock Offering Results And Expected Closing Date” on July 13, 2015. Prnewswire.com‘s news article titled: “Provident Bancorp, Inc. Announces Closing Of Stock Offering” with publication date: July 15, 2015 was also an interesting one.

PVBC Company Profile

Provident Bancorp, Inc., incorporated on August 25, 2011, is the holding firm 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. The Company’s primary lending area encompasses Northeastern Massachusetts and Southern New Hampshire, with a focus on Essex County, Massachusetts, and Hillsborough and Rockingham Counties, New Hampshire. The Company’s 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.

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