Insider Buying: Avidia Bancorp (NYSE:AVBC) CEO Buys 2,023 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,023 shares of Avidia Bancorp stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $19.77 per share, for a total transaction of $39,994.71. Following the purchase, the chief executive officer owned 65,229 shares of the company’s stock, valued at approximately $1,289,577.33. This represents a 3.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avidia Bancorp Stock Performance

Avidia Bancorp stock traded down $0.34 on Friday, reaching $18.94. The company’s stock had a trading volume of 36,484 shares, compared to its average volume of 68,887. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $380.26 million and a P/E ratio of 33.82. The company’s fifty day 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 posted its quarterly earnings data on Monday, April 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Avidia Bancorp had a return on equity of 4.55% and a net margin of 9.47%.The company had revenue of $28.27 million for the quarter, compared to analyst estimates of $28.11 million. As a group, equities analysts forecast 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 will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, May 19th. Avidia Bancorp’s dividend payout ratio is 35.71%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Avidia Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVBC. 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.