Insider Buying: Avidia Bancorp (NYSE:AVBC) EVP Purchases 1,000 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 1,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $18.69 per share, for a total transaction of $18,690.00. Following the acquisition, the executive vice president owned 39,000 shares of the company’s stock, valued at approximately $728,910. The trade was a 2.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Avidia Bancorp Price Performance

Shares of Avidia Bancorp stock traded up $0.02 during trading hours on Friday, hitting $18.77. 31,841 shares of the company were exchanged, compared to its average volume of 76,190. Avidia Bancorp, Inc. has a 1 year low of $14.00 and a 1 year high of $19.95. The stock has a market capitalization of $376.86 million and a PE ratio of 78.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 1.12.

Avidia Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on Avidia Bancorp in a research report on Wednesday, February 11th. They set a “sell (e+)” rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Trading of Avidia Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in Avidia Bancorp during the 4th quarter valued at $1,328,000. Millennium Management LLC acquired a new stake in Avidia Bancorp in the fourth quarter valued at $1,184,000. Commonwealth Equity Services LLC lifted its position 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 worth $1,157,000 after purchasing an additional 15,500 shares during the last quarter. State Street Corp grew its position in shares of Avidia Bancorp by 102.9% in 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, Jane Street Group LLC bought a new stake in Avidia Bancorp during the fourth quarter valued at $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.