SCHEDULE 13G/A: M3 Funds and Affiliates Disclose 6.76% Stake in Provident Bancorp, Inc.

M3 Funds, LLC, M3 Partners, LP, M3F, Inc., and individuals Jason A. Stock and William C. Waller have jointly reported a beneficial ownership of 6.76% of Provident Bancorp, Inc.'s common stock as of December 31, 2024.

Summary

• M3 Funds, LLC, M3 Partners, LP, M3F, Inc., Jason A. Stock, and William C. Waller collectively reported beneficial ownership of 1,198,910 shares of Provident Bancorp, Inc. common stock.
• This aggregate amount represents 6.76% of the total outstanding common stock of Provident Bancorp, Inc.
• The reporting persons share both voting power and dispositive power over all 1,198,910 shares.
• The filing is an Amendment No. 3 to a Schedule 13G, indicating previous filings regarding their ownership.
• The shares were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under SEC rules.

Sentiment

Score: 5

Explanation: This is a factual beneficial ownership report (Schedule 13G) and does not contain information that would typically indicate positive or negative sentiment regarding the issuer's performance or outlook. It simply states an ownership stake.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

This filing indicates a significant passive investment by a group of entities and individuals in Provident Bancorp, Inc., a financial institution. Such filings are common in the banking sector as investment firms take positions in publicly traded banks.

Stakeholder Impact

• Shareholders: The disclosure of a significant 6.76% ownership stake by a group of investment entities and individuals provides transparency regarding the company's ownership structure. While the filing states the shares are not held for control purposes, a substantial stake can still be perceived as a vote of confidence or a potential precursor to future engagement, which could influence investor sentiment.

Key Dates

Keywords

Provident Bancorp, M3 Funds, M3 Partners, M3F Inc, Jason A. Stock, William C. Waller, Beneficial Ownership, Schedule 13G, Common Stock, Investment, SEC Filing