Avidia Bancorp (NYSE:AVBC) CEO Buys $49,987.52 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,582 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average cost of $19.36 per share, with a total value of $49,987.52. Following the purchase, the chief executive officer owned 62,142 shares in the company, valued at $1,203,069.12. This represents a 4.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Avidia Bancorp Price Performance

AVBC opened at $19.14 on Monday. The company has a market capitalization of $384.33 million and a price-to-earnings ratio of 79.75. Avidia Bancorp, Inc. has a 1-year low of $14.00 and a 1-year high of $19.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12.

Avidia Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of Avidia Bancorp in a research report on Wednesday. They set a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Avidia Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Avidia Bancorp during the 4th quarter worth approximately $205,000. Jane Street Group LLC acquired a new stake in shares of Avidia Bancorp in the fourth quarter valued at $260,000. State Street Corp raised its holdings in shares of Avidia Bancorp by 102.9% in the 4th quarter. State Street Corp now owns 55,122 shares of the company’s stock valued at $927,000 after buying an additional 27,960 shares during the period. Commonwealth Equity Services LLC lifted its stake 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 in the last quarter. Finally, Marshall Wace LLP purchased a new position in Avidia Bancorp during the 4th quarter valued at about $1,328,000.

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.