Avidia Bancorp (NYSE:AVBC) CEO Robert Cozzone Acquires 2,023 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $19.77 per share, with a total value of $39,994.71. Following the purchase, the chief executive officer owned 65,229 shares in the company, valued at $1,289,577.33. This represents a 3.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Avidia Bancorp Trading Down 2.0%

Shares of NYSE AVBC opened at $18.89 on Friday. Avidia Bancorp, Inc. has a 12-month low of $14.00 and a 12-month high of $21.43. The stock has a market cap of $379.31 million and a PE ratio of 33.73. 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 company’s 50-day simple moving average is $19.81.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings results on Monday, April 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Avidia Bancorp had a return on equity of 4.55% and a net margin of 9.47%.The business had revenue of $28.27 million for the quarter, compared to analyst estimates of $28.11 million. On average, sell-side analysts forecast that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Avidia Bancorp’s payout ratio is currently 35.71%.

Institutional Trading of Avidia Bancorp

Large investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in Avidia Bancorp in the fourth quarter worth approximately $1,328,000. Millennium Management LLC purchased a new position in Avidia Bancorp in the fourth quarter worth approximately $1,184,000. Renaissance Technologies LLC lifted its stake in Avidia Bancorp by 254.9% in the first quarter. Renaissance Technologies LLC now owns 43,300 shares of the company’s stock worth $852,000 after acquiring an additional 31,100 shares during the last quarter. State Street Corp lifted its stake in 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 acquiring an additional 27,960 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in Avidia Bancorp in the first quarter worth approximately $399,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Avidia Bancorp from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.