Bartholomew Murphy, Jr. Purchases 1,500 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Bartholomew Murphy, Jr. purchased 1,500 shares of the stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $19.09 per share, for a total transaction of $28,635.00. Following the completion of the acquisition, the executive vice president owned 21,500 shares of the company’s stock, valued at approximately $410,435. This represents a 7.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Avidia Bancorp Price Performance

NYSE:AVBC traded up $0.21 during mid-day trading on Friday, hitting $18.96. 34,540 shares of the stock traded hands, compared to its average volume of 76,190. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.77. The stock has a market cap of $380.76 million and a P/E ratio of 78.21. Avidia Bancorp, Inc. has a 12-month low of $14.00 and a 12-month high of $19.95.

Avidia Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Avidia Bancorp’s dividend payout ratio is presently 83.33%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on Avidia Bancorp in a research note on Wednesday, February 11th. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Avidia Bancorp

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in shares of Avidia Bancorp during the 4th quarter valued at $1,328,000. Millennium Management LLC purchased a new stake in Avidia Bancorp during the fourth quarter valued at about $1,184,000. Commonwealth Equity Services LLC lifted its stake in Avidia Bancorp by 29.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock worth $1,157,000 after purchasing an additional 15,500 shares during the last quarter. State Street Corp boosted its holdings in shares of Avidia Bancorp by 102.9% in the 4th quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after purchasing an additional 27,960 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Avidia Bancorp during the 4th quarter valued at about $260,000.

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.