SCHEDULE: M3 Funds Group Reports 0% Stake in Provident Bancorp

M3 Funds, LLC and its affiliates have filed an amendment to their Schedule 13G, indicating they no longer hold any beneficial ownership in Provident Bancorp, Inc.

Summary

• M3 Funds, LLC, M3 Partners, LP, M3F, Inc., Jason A. Stock, and William C. Waller have filed an Amendment No. 4 to Schedule 13G for Provident Bancorp, Inc.
• The reporting persons collectively hold 0.00 shares of Provident Bancorp, Inc. Common Stock, representing 0% of the class.
• This filing indicates a complete divestment of their beneficial ownership in the issuer.
• The filing was made under Rule 13d-1(b) and certifies that the securities were not acquired or held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a routine ownership disclosure indicating a complete divestment, which is neutral regarding the issuer's operational performance or future prospects.

Negatives

• M3 Funds, LLC and its affiliated entities, including M3 Partners, LP and M3F, Inc., along with individuals Jason A. Stock and William C. Waller, have reduced their beneficial ownership in Provident Bancorp, Inc. to 0%, indicating a complete divestment of their stake.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of a change in beneficial ownership by an investment group and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: The complete divestment by M3 Funds group could be interpreted by the market as a loss of confidence from a significant investor, potentially influencing investor sentiment.

Key Dates

Keywords

Provident Bancorp, M3 Funds, Schedule 13G, beneficial ownership, common stock, investment divestment