Avidia Bancorp (NYSE:AVBC) Director Micheal Neil Flanigan Sells 900 Shares of Company Stock

Avidia Bancorp, Inc. (NYSE:AVBC) Director Micheal Neil Flanigan sold 900 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $23.24, for a total value of $20,916.00. Following the completion of the transaction, the director directly owned 100 shares in the company, valued at $2,324. The trade was a 90.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $22.34, for a total transaction of $111,700.00.

Avidia Bancorp Stock Performance

Shares of NYSE AVBC traded down $0.20 during midday trading on Friday, hitting $22.41. 80,519 shares of the company’s stock traded hands, compared to its average volume of 109,584. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.05. Avidia Bancorp, Inc. has a 1 year low of $14.84 and a 1 year high of $24.00. The firm has a fifty day moving average of $22.22 and a 200 day moving average of $20.72. The stock has a market capitalization of $447.55 million, a price-to-earnings ratio of 15.25 and a beta of -0.50.

Avidia Bancorp (NYSE:AVBC) last issued its quarterly earnings results on Friday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Avidia Bancorp had a return on equity of 7.06% and a net margin of 17.49%. The company had revenue of $31.16 million for the quarter, compared to the consensus estimate of $30.08 million. On average, analysts forecast that Avidia Bancorp, Inc. will post 1.55 earnings per share 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 given a dividend of $0.06 per share. The ex-dividend date is Tuesday, November 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. Avidia Bancorp’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analyst Weigh In

AVBC has been the subject of several recent analyst reports. Zacks Research lowered shares of Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Hovde Group started coverage on shares of Avidia Bancorp in a report on Monday, October 5th. They set an “outperform” rating and a $26.00 price objective on the stock. Seaport Research Partners reiterated a “buy” rating and issued a $25.00 target price on shares of Avidia Bancorp in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. 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’s stock. According to data from MarketBeat.com, Avidia Bancorp currently has a consensus rating of “Hold” and an average price target of $26.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVBC. Diversified Trust Co purchased a new stake in shares of Avidia Bancorp in the third quarter valued at approximately $297,000. Allworth Financial LP purchased a new position in Avidia Bancorp during the third quarter worth approximately $36,000. Russell Investments Group Ltd. boosted its stake in Avidia Bancorp by 36.9% during the third quarter. Russell Investments Group Ltd. now owns 90,431 shares of the company’s stock worth $1,953,000 after buying an additional 24,354 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Avidia Bancorp by 22.3% during the second quarter. Engineers Gate Manager LP now owns 15,420 shares of the company’s stock worth $324,000 after buying an additional 2,813 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Avidia Bancorp in the 2nd quarter valued at $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.