Avidia Bancorp (NYSE:AVBC) CFO Buys $50,006.81 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CFO Jonathan Michael Nelson bought 2,579 shares of Avidia Bancorp stock in a transaction on Monday, March 9th. The stock was acquired 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 approximately $433,909.42. The trade was a 13.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Avidia Bancorp Stock Performance

AVBC stock traded up $0.38 during trading hours on Tuesday, hitting $19.49. The company’s stock had a trading volume of 37,560 shares, compared to its average volume of 76,340. Avidia Bancorp, Inc. has a 12 month low of $14.00 and a 12 month high of $19.95. The company has a market capitalization of $391.28 million and a price-to-earnings ratio of 81.35. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Avidia Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Avidia Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of AVBC. Occudo Quantitative Strategies LP bought a new stake in shares of Avidia Bancorp during the 4th quarter worth $227,000. Millennium Management LLC bought a new position in Avidia Bancorp in the 4th quarter worth $1,184,000. OMERS ADMINISTRATION Corp acquired a new position in Avidia Bancorp during the 4th quarter worth $208,000. Marshall Wace LLP acquired a new position in Avidia Bancorp during the 4th quarter worth $1,328,000. Finally, State Street Corp boosted its holdings in Avidia Bancorp by 102.9% during the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock valued at $927,000 after acquiring an additional 27,960 shares during the period.

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.