Avidia Bancorp (NYSE:AVBC) Director Sells $20,916.00 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) Director Micheal Neil Flanigan sold 900 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $23.24, for a total transaction of $20,916.00. Following the transaction, the director owned 100 shares of the company’s stock, valued at $2,324. The trade was a 90.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Micheal Neil Flanigan also recently made the following trade(s):

• On Friday, September 18th, Micheal Neil Flanigan sold 5,000 shares of Avidia Bancorp stock. The shares were sold at an average price of $22.34, for a total transaction of $111,700.00.

Avidia Bancorp Stock Down 0.0%

Shares of AVBC stock opened at $22.41 on Monday. The firm’s fifty day moving average price is $22.22 and its two-hundred day moving average price is $20.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. Avidia Bancorp, Inc. has a 1 year low of $14.84 and a 1 year high of $24.00. The firm has a market capitalization of $447.55 million, a P/E ratio of 15.25 and a beta of -0.50.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings data on Friday, October 23rd. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The company had revenue of $31.16 million during the quarter, compared to the consensus estimate of $30.08 million. Avidia Bancorp had a net margin of 17.49% and a return on equity of 7.06%. On average, equities analysts predict that Avidia Bancorp, Inc. will post 1.55 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Tuesday, November 17th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, November 17th. Avidia Bancorp’s dividend payout ratio is presently 16.33%.

Institutional Investors Weigh In On Avidia Bancorp

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP bought a new position in shares of Avidia Bancorp during the third quarter worth approximately $36,000. Diversified Trust Co acquired a new stake in Avidia Bancorp during the 3rd quarter worth approximately $297,000. Engineers Gate Manager LP boosted its stake in Avidia Bancorp by 22.3% in the 2nd quarter. Engineers Gate Manager LP now owns 15,420 shares of the company’s stock valued at $324,000 after purchasing an additional 2,813 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Avidia Bancorp in the 2nd quarter valued at $372,000. Finally, Bank of America Corp DE boosted its stake in Avidia Bancorp by 217.5% in the 1st quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock valued at $521,000 after purchasing an additional 18,163 shares during the period.

Analyst Ratings Changes

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