Barry Jensen Acquires 1,000 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Barry Jensen purchased 1,000 shares of Avidia Bancorp stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average cost of $18.95 per share, for a total transaction of $18,950.00. Following the completion of the transaction, the executive vice president owned 36,000 shares of the company’s stock, valued at approximately $682,200. This represents a 2.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Avidia Bancorp Trading Up 0.4%

AVBC opened at $19.14 on Friday. Avidia Bancorp, Inc. has a 12 month low of $14.00 and a 12 month high of $19.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Avidia Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVBC. Marshall Wace LLP acquired a new stake in Avidia Bancorp in the 4th quarter valued at approximately $1,328,000. State Street Corp grew its stake in shares of Avidia Bancorp by 102.9% during the 4th quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after acquiring an additional 27,960 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Avidia Bancorp by 29.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock valued at $1,157,000 after purchasing an additional 15,500 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Avidia Bancorp in the fourth quarter valued at approximately $260,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Avidia Bancorp in the fourth quarter worth $205,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings assumed coverage on Avidia Bancorp in a research note on Wednesday. They set a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Avidia Bancorp currently has a consensus rating of “Sell”.

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.