On November 11, 2024, Dennis Pollack, Director at Provident Bancorp Inc (PVBC, Financial), purchased 10,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 47,721 shares of Provident Bancorp Inc.
Provident Bancorp Inc operates as a bank holding company for The Provident Bank, which provides banking services to individuals and small businesses in the United States. The company's services include checking accounts, savings accounts, and mortgage loans, among others.
Over the past year, Dennis Pollack has been actively increasing his stake in the company, purchasing a total of 23,025 shares. There have been no sales recorded by the insider during this period. The overall insider transaction history for Provident Bancorp Inc shows a trend towards buying, with 5 insider buys and only 1 sell over the past year.
Shares of Provident Bancorp Inc were priced at $11.47 on the day of the transaction. The company has a market cap of approximately $197.519 million. The price-earnings ratio stands at 34.81, significantly above both the industry median and the company's historical median.
The stock's valuation according to GF Value is considered Modestly Overvalued with a price-to-GF-Value ratio of 1.33, based on a GF Value of $8.65. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past performance, and future business performance estimates.
This insider buying activity could be a signal to investors about the insider’s confidence in the future prospects of Provident Bancorp Inc, despite the stock's current valuation metrics suggesting a premium against its intrinsic value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
