Avidia Bancorp (NYSE:AVBC) CFO Jonathan Michael Nelson Acquires 2,579 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CFO Jonathan Michael Nelson acquired 2,579 shares of Avidia Bancorp stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $19.39 per share, with a total value of $50,006.81. Following the completion of the purchase, the chief financial officer directly owned 22,378 shares of the company’s stock, valued at $433,909.42. The trade was a 13.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avidia Bancorp Stock Up 0.1%

NYSE AVBC opened at $19.13 on Wednesday. Avidia Bancorp, Inc. has a 1 year low of $14.00 and a 1 year high of $19.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77. The firm has a market cap of $384.03 million and a P/E ratio of 79.69.

Avidia Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Avidia Bancorp’s payout ratio is currently 83.33%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Avidia Bancorp

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in shares of Avidia Bancorp in the fourth quarter worth $1,328,000. Millennium Management LLC acquired a new position in Avidia Bancorp during the 4th quarter valued at $1,184,000. Commonwealth Equity Services LLC boosted its holdings in Avidia Bancorp by 29.1% in the 4th 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. State Street Corp boosted its holdings in 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 purchasing an additional 27,960 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Avidia Bancorp in the 4th quarter worth $260,000.

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.