Avidia Bancorp (NYSE:AVBC) EVP Buys $38,507.06 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Thomas Doane purchased 1,726 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $22.31 per share, with a total value of $38,507.06. Following the completion of the acquisition, the executive vice president owned 19,422 shares of the company’s stock, valued at $433,304.82. This trade represents a 9.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Avidia Bancorp Stock Performance

Shares of AVBC opened at $21.79 on Friday. The stock has a market capitalization of $435.15 million and a P/E ratio of 22.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day moving average is $21.05. Avidia Bancorp, Inc. has a 52 week low of $14.31 and a 52 week high of $22.90.

Avidia Bancorp (NYSE:AVBC) last released its earnings results on Monday, July 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $29.87 million during the quarter, compared to the consensus estimate of $28.79 million. Avidia Bancorp had a net margin of 11.51% and a return on equity of 4.62%. On average, equities analysts forecast that Avidia Bancorp, Inc. will post 1.44 earnings per share for the current fiscal year.

Avidia Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Avidia Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, August 18th. Avidia Bancorp’s dividend payout ratio (DPR) is currently 25.26%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVBC. Renaissance Technologies LLC bought a new position in shares of Avidia Bancorp during the 4th quarter valued at $205,000. OMERS ADMINISTRATION Corp bought a new stake in Avidia Bancorp in the fourth quarter worth $208,000. Occudo Quantitative Strategies LP acquired a new position in Avidia Bancorp during the fourth quarter worth $227,000. Jane Street Group LLC acquired a new position in Avidia Bancorp during the fourth quarter worth $260,000. Finally, Deprince Race & Zollo Inc. acquired a new position in Avidia Bancorp during the first quarter worth $399,000.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVBC. Zacks Research raised Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Seaport Research Partners reaffirmed a “buy” rating and set a $25.00 price target on shares of Avidia Bancorp in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avidia Bancorp in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Avidia Bancorp has a consensus rating of “Moderate Buy”.

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.