Avidia Bancorp (NYSE:AVBC) EVP Acquires $20,190.00 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 1,000 shares of Avidia Bancorp stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $20.19 per share, for a total transaction of $20,190.00. Following the transaction, the executive vice president directly owned 41,000 shares of the company’s stock, valued at $827,790. The trade was a 2.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Avidia Bancorp Stock Performance

Shares of AVBC opened at $19.26 on Thursday. The stock has a fifty day simple moving average of $19.80. Avidia Bancorp, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $21.43. The company has a market capitalization of $386.64 million and a PE ratio of 34.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.11 million. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. As a group, research analysts forecast that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current year.

Avidia Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Avidia Bancorp’s payout ratio is presently 35.71%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Avidia Bancorp from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Avidia Bancorp during the fourth quarter worth $1,328,000. Millennium Management LLC purchased a new stake in shares of Avidia Bancorp during the fourth quarter valued at $1,184,000. Commonwealth Equity Services LLC boosted its stake in shares of Avidia Bancorp by 29.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock valued at $1,157,000 after purchasing an additional 15,500 shares during the period. State Street Corp boosted its stake in shares of Avidia Bancorp by 102.9% during the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock valued at $927,000 after purchasing an additional 27,960 shares during the period. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Avidia Bancorp during the first quarter valued at $399,000.

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.