Avidia Bancorp, Inc. (NYSE:AVBC) Stock to Pay Quarterly Dividend of $0.06

Avidia Bancorp, Inc. (NYSE:AVBC) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.06 per share on Monday, November 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 17th.

Avidia Bancorp Stock Up 0.5%

Shares of NYSE:AVBC opened at $22.31 on Friday. The company has a fifty day moving average of $22.00 and a 200-day moving average of $20.94. The company has a market capitalization of $445.45 million, a PE ratio of 23.48 and a beta of -0.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.05. Avidia Bancorp has a 52-week low of $14.53 and a 52-week high of $22.90.

Avidia Bancorp (NYSE:AVBC) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $31.16 million for the quarter, compared to the consensus estimate of $30.08 million. Avidia Bancorp had a return on equity of 4.62% and a net margin of 11.51%. On average, equities analysts predict that Avidia Bancorp will post 1.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AVBC. Weiss Ratings upgraded Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Seaport Research Partners reissued a “buy” rating and set a $25.00 price target on shares of Avidia Bancorp in a research note on Friday, July 24th. Zacks Research cut Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, Hovde Group started coverage on Avidia Bancorp in a research note on Monday, October 5th. They issued an “outperform” rating and a $26.00 price objective for the company. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

About Avidia Bancorp

Avidia Bancorp, Inc is the holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. The company serves consumers, businesses and nonprofit organizations primarily across central Massachusetts and the MetroWest region.

Avidia Bank provides a range of banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending. Its business banking offerings include commercial real estate loans, business lines of credit, cash management and deposit services.