Barry Jensen Buys 1,000 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 1,000 shares of Avidia Bancorp stock in a transaction dated Wednesday, April 29th. The stock was bought at an average price of $20.30 per share, for a total transaction of $20,300.00. Following the completion of the purchase, the executive vice president owned 40,000 shares in the company, valued at $812,000. This represents a 2.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Avidia Bancorp Trading Down 0.6%

AVBC opened at $20.64 on Friday. The firm has a 50 day moving average of $19.63. Avidia Bancorp, Inc. has a 1-year low of $14.00 and a 1-year high of $21.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $414.43 million and a P/E ratio of 36.86.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. The company had revenue of $28.27 million for the quarter, compared to the consensus estimate of $28.11 million. On average, equities analysts forecast that Avidia Bancorp, Inc. will post 1.31 EPS for the current year.

Avidia Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, May 19th. Avidia Bancorp’s dividend payout ratio (DPR) is presently 35.71%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVBC. Renaissance Technologies LLC bought a new position in Avidia Bancorp during the 4th quarter worth approximately $205,000. Commonwealth Equity Services LLC raised its holdings 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 purchasing an additional 15,500 shares during the last quarter. Jane Street Group LLC bought a new position in Avidia Bancorp during the 4th quarter worth approximately $260,000. State Street Corp raised its holdings in 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 purchasing an additional 27,960 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Avidia Bancorp during the 4th quarter worth approximately $1,328,000.

Wall Street Analysts Forecast Growth

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

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.