Avidia Bancorp (NYSE:AVBC) CEO Robert Cozzone Acquires 2,128 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,128 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $18.80 per share, with a total value of $40,006.40. Following the completion of the acquisition, the chief executive officer directly owned 67,357 shares of the company’s stock, valued at $1,266,311.60. This trade represents a 3.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Avidia Bancorp Stock Up 0.1%

NYSE AVBC opened at $19.08 on Tuesday. The firm has a market capitalization of $383.03 million and a P/E ratio of 34.06. Avidia Bancorp, Inc. has a twelve month low of $14.00 and a twelve month high of $21.43. The firm has a fifty day moving average of $19.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings data on Monday, April 27th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $28.27 million during the quarter, compared to the consensus estimate of $28.11 million. Avidia Bancorp had a return on equity of 4.31% and a net margin of 9.47%. Research analysts expect that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current fiscal year.

Avidia Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, May 19th. Avidia Bancorp’s dividend payout ratio is presently 35.71%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in shares of Avidia Bancorp by 29.1% in 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. Deprince Race & Zollo Inc. bought a new position in shares of Avidia Bancorp in the 1st quarter worth about $399,000. Bank of America Corp DE raised its position in shares of Avidia Bancorp by 217.5% in the 1st quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock worth $521,000 after acquiring an additional 18,163 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Avidia Bancorp in the 4th quarter worth about $205,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Avidia Bancorp in the 4th quarter worth about $208,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Avidia Bancorp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Avidia Bancorp 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.