Robert Cozzone Buys 2,128 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone bought 2,128 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost 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 approximately $1,266,311.60. The trade was a 3.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Avidia Bancorp Trading Up 0.6%

Shares of Avidia Bancorp stock opened at $19.22 on Wednesday. The firm has a market cap of $386.00 million and a PE ratio of 34.33. Avidia Bancorp, Inc. has a twelve month low of $14.00 and a twelve month high of $21.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50 day moving average is $19.80.

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, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.11 million. Avidia Bancorp had a return on equity of 4.31% and a net margin of 9.47%. Sell-side analysts predict that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current year.

Avidia Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. Avidia Bancorp’s payout ratio is 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 report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Avidia Bancorp currently has an average rating of “Sell”.

Institutional Trading of Avidia Bancorp

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in Avidia Bancorp during the 4th quarter worth $205,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Avidia Bancorp during the fourth quarter valued at $208,000. Occudo Quantitative Strategies LP bought a new stake in shares of Avidia Bancorp during the fourth quarter valued at about $227,000. Jane Street Group LLC acquired a new stake in Avidia Bancorp in the fourth quarter worth about $260,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Avidia Bancorp in the first quarter worth about $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.