Avidia Bancorp (NYSE:AVBC) EVP Nicolas Karmelek Purchases 1,090 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Nicolas Karmelek purchased 1,090 shares of Avidia Bancorp stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $18.59 per share, with a total value of $20,263.10. Following the transaction, the executive vice president owned 6,485 shares in the company, valued at approximately $120,556.15. The trade was a 20.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Avidia Bancorp Stock Down 0.6%

Avidia Bancorp stock traded down $0.11 during mid-day trading on Tuesday, reaching $18.50. The company’s stock had a trading volume of 63,920 shares, compared to its average volume of 77,368. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.77. Avidia Bancorp, Inc. has a 12 month low of $14.00 and a 12 month high of $19.95. The company has a market cap of $371.41 million and a P/E ratio of 77.08.

Avidia Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on Avidia Bancorp in a research note on Wednesday, February 11th. They set a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Avidia Bancorp

A number of hedge funds have recently made changes to their positions in AVBC. Renaissance Technologies LLC acquired a new position in shares of Avidia Bancorp during the 4th quarter worth approximately $205,000. Commonwealth Equity Services LLC raised its position in shares of Avidia Bancorp by 29.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock valued at $1,157,000 after purchasing an additional 15,500 shares during the period. Jane Street Group LLC acquired a new stake in shares of Avidia Bancorp during the 4th quarter worth about $260,000. State Street Corp boosted its holdings in shares of 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 buying an additional 27,960 shares during the period. Finally, Marshall Wace LLP acquired a new position in Avidia Bancorp in 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.