Avidia Bancorp, Inc. (NYSE:AVBC) to Issue $0.05 Quarterly Dividend

Avidia Bancorp, Inc. (NYSE:AVBC) announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Tuesday, May 19th will be paid a dividend of 0.05 per share on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th.

Avidia Bancorp Price Performance

Shares of AVBC opened at $20.36 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $408.85 million and a PE ratio of 84.84. Avidia Bancorp has a 12-month low of $14.00 and a 12-month high of $21.43. The stock has a 50 day simple moving average of $19.47.

Avidia Bancorp (NYSE:AVBC) last announced its earnings results on Thursday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $28.27 million for the quarter, compared to analyst estimates of $28.11 million. Avidia Bancorp had a negative net margin of 2.23% and a negative return on equity of 1.17%. As a group, equities research analysts forecast that Avidia Bancorp will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jonathan Michael Nelson bought 2,579 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $19.39 per share, for a total transaction of $50,006.81. Following the transaction, the chief financial officer owned 22,378 shares of the company’s stock, valued at $433,909.42. This represents 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. Also, CEO Robert D. Cozzone purchased 2,582 shares of the stock in a transaction dated Wednesday, February 11th. The stock was bought at an average cost of $19.36 per share, with a total value of $49,987.52. Following the completion of the purchase, the chief executive officer owned 62,142 shares in the company, valued at $1,203,069.12. The trade was a 4.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 14,765 shares of company stock worth $281,130 in the last ninety days.

Institutional Investors Weigh In On Avidia Bancorp

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at $205,000. Commonwealth Equity Services LLC lifted its holdings in Avidia Bancorp by 29.1% during the fourth 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. Jane Street Group LLC acquired a new position in Avidia Bancorp in the fourth quarter valued at about $260,000. State Street Corp increased its holdings in shares of Avidia Bancorp by 102.9% in the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after acquiring an additional 27,960 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth about $1,328,000.

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.