Avidia Bancorp (NYSE:AVBC) CEO Acquires $40,006.40 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,128 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $18.80 per share, with a total value of $40,006.40. Following the transaction, the chief executive officer directly owned 67,357 shares of the company’s stock, valued at approximately $1,266,311.60. This represents a 3.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Avidia Bancorp Stock Down 2.4%

Avidia Bancorp stock opened at $18.80 on Thursday. Avidia Bancorp, Inc. has a 52-week low of $14.00 and a 52-week high of $21.43. The stock has a fifty day simple moving average of $19.80. The firm has a market capitalization of $377.52 million and a price-to-earnings ratio of 33.57. 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 released its quarterly earnings data on Monday, April 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.31%. The company had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.11 million. On average, research analysts expect that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Avidia Bancorp’s dividend payout ratio is presently 35.71%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Avidia Bancorp

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Avidia Bancorp during the 4th quarter valued at $205,000. OMERS ADMINISTRATION Corp acquired a new stake in Avidia Bancorp during the 4th quarter valued at $208,000. Occudo Quantitative Strategies LP acquired a new stake in Avidia Bancorp during the 4th quarter valued at $227,000. Jane Street Group LLC acquired a new stake in Avidia Bancorp during the 4th quarter valued at $260,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Avidia Bancorp during the 1st quarter valued at $399,000.

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.