Insider Buying: Avidia Bancorp (NYSE:AVBC) CEO Purchases $39,994.71 in Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,023 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $19.77 per share, with a total value of $39,994.71. Following the transaction, the chief executive officer directly owned 65,229 shares of the company’s stock, valued at approximately $1,289,577.33. This represents a 3.20% 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 Trading Up 0.1%

NYSE:AVBC opened at $18.89 on Monday. 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 firm has a market cap of $379.24 million and a price-to-earnings ratio of 33.73. The company’s fifty day simple moving average is $19.81. Avidia Bancorp, Inc. has a twelve month low of $14.00 and a twelve month high of $21.43.

Avidia Bancorp (NYSE:AVBC) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Avidia Bancorp had a return on equity of 4.31% and a net margin of 9.47%.The firm had revenue of $28.27 million during the quarter, compared to the consensus estimate of $28.11 million. On average, analysts predict that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current year.

Avidia Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is 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%.

Institutional Investors Weigh In On Avidia Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVBC. Renaissance Technologies LLC purchased a new position in Avidia Bancorp in the 4th quarter valued at about $205,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Avidia Bancorp during the fourth quarter worth about $208,000. Occudo Quantitative Strategies LP acquired a new position in shares of Avidia Bancorp in the fourth quarter worth about $227,000. Jane Street Group LLC purchased a new position in Avidia Bancorp in the fourth quarter valued at about $260,000. Finally, Deprince Race & Zollo Inc. purchased a new position in Avidia Bancorp in the first quarter valued at about $399,000.

Analyst Ratings Changes

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

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.