Thomas Doane Acquires 2,040 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Thomas Doane acquired 2,040 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average cost of $21.16 per share, with a total value of $43,166.40. Following the completion of the purchase, the executive vice president owned 17,495 shares in the company, valued at approximately $370,194.20. This represents a 13.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Avidia Bancorp Stock Down 2.1%

Shares of AVBC traded down $0.44 during mid-day trading on Wednesday, reaching $20.46. 57,150 shares of the company’s stock were exchanged, compared to its average volume of 73,772. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $19.56. Avidia Bancorp, Inc. has a 52-week low of $14.00 and a 52-week high of $21.43. The company has a market cap of $410.90 million and a P/E ratio of 85.26.

Avidia Bancorp (NYSE:AVBC) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. The business had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $28.11 million. As a group, equities research analysts predict that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Avidia Bancorp’s dividend payout ratio (DPR) is 83.33%.

Analysts Set New Price Targets

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

Institutional Trading of Avidia Bancorp

A number of hedge funds have recently bought and sold shares of the company. Deprince Race & Zollo Inc. acquired a new stake in Avidia Bancorp during the first quarter worth approximately $399,000. Occudo Quantitative Strategies LP acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at $227,000. Millennium Management LLC acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at $1,184,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at $208,000. Finally, Marshall Wace LLP acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at $1,328,000.

Avidia Bancorp Company Profile

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.