Insider Buying: Avidia Bancorp (NYSE:AVBC) EVP Purchases $37,420.00 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 2,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average cost of $18.71 per share, for a total transaction of $37,420.00. Following the transaction, the executive vice president owned 38,000 shares in the company, valued at approximately $710,980. The trade was a 5.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Avidia Bancorp Price Performance

AVBC stock traded down $0.06 during trading on Tuesday, reaching $18.36. 25,203 shares of the stock were exchanged, compared to its average volume of 78,590. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $368.67 million and a PE ratio of 76.50. Avidia Bancorp, Inc. has a 1 year low of $14.00 and a 1 year high of $19.95.

Avidia Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Avidia Bancorp’s dividend payout ratio is 83.33%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on shares of Avidia Bancorp in a research note on Wednesday, February 11th. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Trading of Avidia Bancorp

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in Avidia Bancorp during the 4th quarter worth about $205,000. Commonwealth Equity Services LLC raised its stake in Avidia Bancorp by 29.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock valued at $1,157,000 after buying an additional 15,500 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Avidia Bancorp during the 4th quarter worth about $260,000. State Street Corp raised its position in shares of Avidia Bancorp by 102.9% during the 4th quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after acquiring an additional 27,960 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Avidia Bancorp during the fourth quarter worth approximately $1,328,000.

Avidia Bancorp Company Profile

Avidia Bancorp is the bank holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. Through its banking subsidiary, the company offers a range of commercial and retail banking services designed to meet the needs of individuals, families and small- to mid-sized businesses in the communities it serves.

Core products and services include personal and business deposit accounts, consumer and commercial lending, residential mortgage and home equity financing, and cash management and payment solutions for businesses.