Avidia Bancorp (NYSE:AVBC) Stock: Insider Micheal Neil Flanigan Sells 900 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) Director Micheal Neil Flanigan sold 900 shares of Avidia Bancorp stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $23.24, for a total transaction of $20,916.00. Following the completion of the sale, the director directly owned 100 shares in the company, valued at approximately $2,324. The trade was a 90.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Micheal Neil Flanigan also recently made the following trade(s):

• On Friday, September 18th, Micheal Neil Flanigan sold 5,000 shares of Avidia Bancorp stock. The stock was sold at an average price of $22.34, for a total transaction of $111,700.00.

Avidia Bancorp Trading Down 0.9%

NYSE AVBC opened at $22.41 on Friday. The stock has a market capitalization of $447.55 million, a P/E ratio of 15.25 and a beta of -0.50. Avidia Bancorp, Inc. has a 52-week low of $14.84 and a 52-week high of $24.00. The firm has a 50-day moving average price of $22.22 and a 200 day moving average price of $20.72. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.48.

Avidia Bancorp (NYSE:AVBC) last announced its quarterly earnings data on Friday, October 23rd. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Avidia Bancorp had a net margin of 17.49% and a return on equity of 7.06%. The firm had revenue of $31.16 million during the quarter, compared to the consensus estimate of $30.08 million. Equities research analysts expect that Avidia Bancorp, Inc. will post 1.55 EPS for the current year.

Avidia Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th. Avidia Bancorp’s dividend payout ratio is 16.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVBC shares. Zacks Research downgraded Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Weiss Ratings raised Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Seaport Research Partners reiterated a “buy” rating and issued a $25.00 price objective on shares of Avidia Bancorp in a research report on Friday, July 24th. Finally, Hovde Group initiated coverage on Avidia Bancorp in a report on Monday, October 5th. They issued an “outperform” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Avidia Bancorp presently has an average rating of “Hold” and an average price target of $26.00.

Institutional Trading of Avidia Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC grew its position in Avidia Bancorp by 36.0% during the second quarter. Ancora Advisors LLC now owns 102,550 shares of the company’s stock worth $2,153,000 after buying an additional 27,160 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Avidia Bancorp by 36.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 90,431 shares of the company’s stock valued at $1,953,000 after acquiring an additional 24,354 shares during the period. Renaissance Technologies LLC lifted its position in shares of Avidia Bancorp by 254.9% during the 1st quarter. Renaissance Technologies LLC now owns 43,300 shares of the company’s stock valued at $852,000 after acquiring an additional 31,100 shares during the period. Bank of America Corp DE lifted its position in shares of Avidia Bancorp by 217.5% during the 1st quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock valued at $521,000 after acquiring an additional 18,163 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Avidia Bancorp during the 2nd quarter worth approximately $372,000.

About Avidia Bancorp

Avidia Bancorp, Inc is the holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. The company serves consumers, businesses and nonprofit organizations primarily across central Massachusetts and the MetroWest region.

Avidia Bank provides a range of banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending. Its business banking offerings include commercial real estate loans, business lines of credit, cash management and deposit services.