Insider Buying: Avidia Bancorp (NYSE:AVBC) EVP Acquires 1,090 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Nicolas Karmelek acquired 1,090 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $18.59 per share, for a total transaction of $20,263.10. Following the acquisition, the executive vice president owned 6,485 shares in the company, valued at approximately $120,556.15. The trade was a 20.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Avidia Bancorp Price Performance

Shares of AVBC stock traded down $0.11 during trading hours on Tuesday, reaching $18.50. 63,920 shares of the company were exchanged, compared to its average volume of 77,368. Avidia Bancorp, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $19.95. The firm has a market capitalization of $371.41 million and a price-to-earnings ratio of 77.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.77.

Avidia Bancorp Dividend Announcement

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Avidia Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP bought a new position in Avidia Bancorp during the fourth quarter worth about $227,000. Millennium Management LLC acquired a new position in shares of Avidia Bancorp in the fourth quarter valued at approximately $1,184,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth $208,000. Marshall Wace LLP bought a new stake in Avidia Bancorp in the 4th quarter valued at $1,328,000. Finally, State Street Corp boosted 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 during the period.

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.