Avidia Bancorp (NYSE:AVBC) EVP Thomas Doane Buys 1,726 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Thomas Doane acquired 1,726 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $22.31 per share, with a total value of $38,507.06. Following the completion of the transaction, the executive vice president owned 19,422 shares in the company, valued at $433,304.82. This represents a 9.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Avidia Bancorp Stock Down 0.1%

Shares of AVBC stock opened at $22.07 on Thursday. The stock’s fifty day moving average price is $20.99. Avidia Bancorp, Inc. has a twelve month low of $14.31 and a twelve month high of $22.90. The company has a market cap of $440.76 million and a price-to-earnings ratio of 23.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 1.05.

Avidia Bancorp (NYSE:AVBC) last released its quarterly earnings results on Monday, July 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The firm had revenue of $29.87 million during the quarter, compared to the consensus estimate of $28.79 million. Avidia Bancorp had a net margin of 11.51% and a return on equity of 4.62%. As a group, equities research analysts expect that Avidia Bancorp, Inc. will post 1.44 EPS for the current fiscal year.

Avidia Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.06 per share. This is a positive change from Avidia Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. Avidia Bancorp’s payout ratio is 25.26%.

Institutional Investors Weigh In On Avidia Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of AVBC. Marshall Wace LLP purchased a new position in shares of Avidia Bancorp in the 4th quarter worth approximately $1,328,000. Millennium Management LLC bought a new stake in Avidia Bancorp during the fourth quarter worth $1,184,000. Renaissance Technologies LLC boosted its position 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 purchasing an additional 31,100 shares during the last quarter. State Street Corp boosted its position 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 purchasing an additional 27,960 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in Avidia Bancorp by 36.0% in the 2nd quarter. Ancora Advisors LLC now owns 102,550 shares of the company’s stock valued at $2,153,000 after purchasing an additional 27,160 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVBC. Weiss Ratings restated a “sell (d-)” rating on shares of Avidia Bancorp in a report on Wednesday, July 29th. Zacks Research upgraded Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $25.00 target price on shares of Avidia Bancorp in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

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.