Barry Jensen Purchases 1,000 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen acquired 1,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $18.69 per share, for a total transaction of $18,690.00. Following the transaction, the executive vice president owned 39,000 shares in the company, valued at approximately $728,910. This represents a 2.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Avidia Bancorp Stock Up 1.4%

NYSE AVBC opened at $19.01 on Friday. Avidia Bancorp, Inc. has a 52-week low of $14.00 and a 52-week high of $19.95. The firm has a market cap of $381.74 million and a PE ratio of 79.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Avidia Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Avidia Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in AVBC. Occudo Quantitative Strategies LP purchased a new position in Avidia Bancorp in the 4th quarter worth $227,000. Millennium Management LLC purchased a new stake in Avidia Bancorp during the fourth quarter valued at about $1,184,000. OMERS ADMINISTRATION Corp bought a new position in shares of Avidia Bancorp during the fourth quarter valued at about $208,000. Marshall Wace LLP bought a new position in shares of Avidia Bancorp during the fourth quarter valued at about $1,328,000. Finally, State Street Corp increased its holdings in shares of 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 buying an additional 27,960 shares during the period.

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.