Provident Bancorp, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Provident Bancorp, Inc. (NASDAQ: PVBC) resulting from allegations that Provident may have issued materially misleading business information to the investing public.

If you purchased Provident securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Provident securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

On November 15, 2022, Provident filed a Form NT 10-Q Notification of inability to timely file Form 10-Q for the quarter ended September 30, 2022. The Form NT 10-Q stated the delay was due to “estimates that [Provident] will report net loss of approximately $27.5 million for the quarter ended September 30, 2022, compared to net income of $5.1 million for the quarter ended September 30, 2021.”

On this news, Provident’s stock price fell $2.20, or over 21%, to close on November 16, 2022 at $7.90 on unusually high trading volume.

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