Insider Buying: Avidia Bancorp (NYSE:AVBC) EVP Acquires $28,635.00 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Bartholomew Murphy, Jr. purchased 1,500 shares of Avidia Bancorp stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $19.09 per share, with a total value of $28,635.00. Following the transaction, the executive vice president owned 21,500 shares in the company, valued at approximately $410,435. The trade was a 7.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Avidia Bancorp Stock Up 1.4%

Shares of Avidia Bancorp stock opened at $19.01 on Friday. 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 twelve month low of $14.00 and a twelve month high of $19.95. The stock has a market capitalization of $381.74 million and a P/E ratio of 79.21.

Avidia Bancorp Announces Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on Avidia Bancorp in a research note on Wednesday, February 11th. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, Avidia Bancorp presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Avidia Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of AVBC. Renaissance Technologies LLC acquired a new position in Avidia Bancorp during the fourth quarter worth about $205,000. OMERS ADMINISTRATION Corp acquired a new stake in Avidia Bancorp in the 4th quarter valued at about $208,000. Occudo Quantitative Strategies LP acquired a new stake in Avidia Bancorp in the 4th quarter valued at about $227,000. Jane Street Group LLC purchased a new position in Avidia Bancorp in the 4th quarter worth approximately $260,000. Finally, State Street Corp lifted its stake in 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 purchasing an additional 27,960 shares in the last quarter.

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.