Avidia Bancorp (NYSE:AVBC) CFO Purchases $50,006.81 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CFO Jonathan Michael Nelson purchased 2,579 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $19.39 per share, with a total value of $50,006.81. Following the purchase, the chief financial officer owned 22,378 shares of the company’s stock, valued at approximately $433,909.42. This trade represents a 13.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Avidia Bancorp Price Performance

Shares of AVBC traded up $0.02 during mid-day trading on Friday, reaching $18.77. 31,841 shares of the company were exchanged, compared to its average volume of 76,190. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $376.86 million and a price-to-earnings ratio of 78.20. Avidia Bancorp, Inc. has a 52 week low of $14.00 and a 52 week high of $19.95.

Avidia Bancorp Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.1%. Avidia Bancorp’s dividend payout ratio is 83.33%.

Institutional Investors Weigh In On Avidia Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Avidia Bancorp during the fourth quarter worth $205,000. OMERS ADMINISTRATION Corp bought a new position in Avidia Bancorp in the 4th quarter worth approximately $208,000. Occudo Quantitative Strategies LP purchased a new position in shares of Avidia Bancorp in the fourth quarter valued at $227,000. Jane Street Group LLC bought a new stake in shares of Avidia Bancorp during the fourth quarter valued at about $260,000. Finally, Commonwealth Equity Services LLC increased its holdings in Avidia Bancorp by 29.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock worth $1,157,000 after acquiring an additional 15,500 shares during the period.

Analysts Set New Price Targets

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