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

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone purchased 2,128 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were acquired 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 in the company, valued at $1,266,311.60. The trade was a 3.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Avidia Bancorp Trading Down 0.5%

Shares of Avidia Bancorp stock traded down $0.09 during trading on Monday, reaching $18.97. The company’s stock had a trading volume of 31,005 shares, compared to its average volume of 67,278. Avidia Bancorp, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $21.43. The company has a market capitalization of $380.92 million and a price-to-earnings ratio of 33.87. The stock has a 50-day moving average price of $19.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08.

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

Avidia Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Avidia Bancorp’s payout ratio is presently 35.71%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Avidia Bancorp in the fourth quarter valued at about $205,000. OMERS ADMINISTRATION Corp bought a new stake in Avidia Bancorp in the fourth quarter valued at about $208,000. Occudo Quantitative Strategies LP bought a new stake in Avidia Bancorp in the fourth quarter valued at about $227,000. Jane Street Group LLC bought a new stake in Avidia Bancorp in the fourth quarter valued at about $260,000. Finally, Deprince Race & Zollo Inc. bought a new stake in Avidia Bancorp in the first quarter valued at about $399,000.

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.