Insider Buying: Avidia Bancorp (NYSE:AVBC) CEO Purchases $19,992.56 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone bought 1,064 shares of Avidia Bancorp stock in a transaction on Monday, March 2nd. The stock was purchased at an average price of $18.79 per share, with a total value of $19,992.56. Following the completion of the acquisition, the chief executive officer directly owned 63,206 shares of the company’s stock, valued at $1,187,640.74. This represents a 1.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Avidia Bancorp Stock Down 0.6%

Shares of NYSE:AVBC traded down $0.11 during trading on Tuesday, reaching $18.50. The stock had a trading volume of 63,920 shares, compared to its average volume of 77,368. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12. Avidia Bancorp, Inc. has a one year low of $14.00 and a one year high of $19.95. The stock has a market capitalization of $371.41 million and a P/E ratio of 77.08.

Avidia Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVBC. Marshall Wace LLP acquired a new position in Avidia Bancorp during the fourth quarter valued at $1,328,000. Millennium Management LLC purchased a new position in shares of Avidia Bancorp during the 4th quarter valued at about $1,184,000. Commonwealth Equity Services LLC lifted its holdings in shares of Avidia Bancorp by 29.1% in the 4th 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 during the period. State Street Corp boosted its stake in shares of Avidia Bancorp by 102.9% in the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after buying an additional 27,960 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Avidia Bancorp during the fourth quarter worth about $260,000.

About Avidia Bancorp

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.