Michael Dennis Murphy Purchases 5,000 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) Chairman Michael Murphy bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $22.12 per share, for a total transaction of $110,600.00. Following the completion of the purchase, the chairman owned 6,850 shares of the company’s stock, valued at $151,522. This represents a 270.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Avidia Bancorp Price Performance

AVBC stock opened at $21.94 on Wednesday. Avidia Bancorp, Inc. has a 1 year low of $14.31 and a 1 year high of $22.90. The stock has a market capitalization of $438.14 million and a PE ratio of 23.09. The company’s 50-day moving average is $21.58 and its 200-day moving average is $20.40. 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 announced its quarterly earnings data on Monday, July 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $29.87 million during the quarter, compared to analysts’ expectations of $28.79 million. Avidia Bancorp had a return on equity of 4.62% and a net margin of 11.51%. Equities research analysts expect that Avidia Bancorp, Inc. will post 1.44 EPS for the current fiscal year.

Avidia Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.06 per share. This is a boost from Avidia Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, August 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.1%. Avidia Bancorp’s dividend payout ratio (DPR) is presently 25.26%.

Institutional Investors Weigh In On Avidia Bancorp

Several large investors have recently made changes to their positions in AVBC. Ancora Advisors LLC boosted its holdings in shares of Avidia Bancorp by 36.0% in the 2nd quarter. Ancora Advisors LLC now owns 102,550 shares of the company’s stock worth $2,153,000 after buying an additional 27,160 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Avidia Bancorp by 254.9% during the first quarter. Renaissance Technologies LLC now owns 43,300 shares of the company’s stock worth $852,000 after buying an additional 31,100 shares during the last quarter. Engineers Gate Manager LP raised its position in Avidia Bancorp by 22.3% in the second quarter. Engineers Gate Manager LP now owns 15,420 shares of the company’s stock worth $324,000 after acquiring an additional 2,813 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Avidia Bancorp in the second quarter valued at about $372,000. Finally, Bank of America Corp DE increased its stake in shares of Avidia Bancorp by 217.5% during the 1st quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock worth $521,000 after purchasing an additional 18,163 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings raised Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Finally, Seaport Research Partners reiterated a “buy” rating and set a $25.00 price target on shares of Avidia Bancorp in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

About Avidia Bancorp

Avidia Bancorp, Inc is the bank holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. Through Avidia Bank, the company provides banking and financial services to individuals, families, businesses and nonprofit organizations.

Avidia Bank offers deposit products such as checking, savings, money market and certificate accounts, along with residential mortgages, home equity loans, consumer credit and commercial lending. Its business banking services include commercial real estate financing, business loans, cash management and other treasury services.