Avidia Bancorp (NYSE:AVBC) CEO Buys $19,992.56 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone bought 1,064 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $18.79 per share, with a total value of $19,992.56. Following the completion of the transaction, the chief executive officer owned 63,206 shares in the company, valued at $1,187,640.74. This represents a 1.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Avidia Bancorp Price Performance

Shares of AVBC opened at $18.97 on Friday. 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, Inc. has a 1 year low of $14.00 and a 1 year high of $19.95. The stock has a market cap of $380.84 million and a PE ratio of 79.04.

Avidia Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Avidia Bancorp’s dividend payout ratio (DPR) is currently 83.33%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Avidia Bancorp in the 4th quarter valued at approximately $1,328,000. Millennium Management LLC acquired a new position in shares of Avidia Bancorp during the fourth quarter worth $1,184,000. State Street Corp grew its stake in shares of Avidia Bancorp by 102.9% during 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 in the last quarter. Commonwealth Equity Services LLC increased its holdings in 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 buying an additional 15,500 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Avidia Bancorp in the fourth quarter valued at $260,000.

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.