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

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was bought at an average price of $20.19 per share, for a total transaction of $20,190.00. Following the purchase, the executive vice president owned 41,000 shares in the company, valued at approximately $827,790. This represents a 2.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Avidia Bancorp Trading Down 0.6%

Shares of NYSE AVBC opened at $19.29 on Wednesday. The firm’s 50-day simple moving average is $19.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $387.30 million and a PE ratio of 34.44. Avidia Bancorp, Inc. has a 12-month low of $14.00 and a 12-month high of $21.43.

Avidia Bancorp (NYSE:AVBC) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $28.27 million for the quarter, compared to the consensus estimate of $28.11 million. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. On average, equities analysts predict that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Avidia Bancorp’s dividend payout ratio (DPR) is currently 35.71%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVBC. Renaissance Technologies LLC acquired a new stake in Avidia Bancorp during the 4th quarter worth about $205,000. Commonwealth Equity Services LLC grew its position 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 purchasing an additional 15,500 shares during the period. Jane Street Group LLC acquired a new stake in Avidia Bancorp during the 4th quarter worth about $260,000. State Street Corp grew its position in Avidia Bancorp by 102.9% during 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. Finally, Marshall Wace LLP acquired a new stake in Avidia Bancorp during the 4th quarter worth about $1,328,000.

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.