Robert Cozzone Acquires 2,023 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,023 shares of Avidia Bancorp stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price 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 in the company, valued at approximately $1,289,577.33. This trade represents a 3.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Avidia Bancorp Price Performance

NYSE:AVBC opened at $18.89 on Friday. Avidia Bancorp, Inc. has a 12-month low of $14.00 and a 12-month high of $21.43. The firm has a market cap of $379.31 million and a price-to-earnings ratio of 33.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $19.81.

Avidia Bancorp (NYSE:AVBC) last released its quarterly earnings data on Monday, April 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 business had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.11 million. Research analysts anticipate that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Avidia Bancorp’s payout ratio is currently 35.71%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Avidia Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Avidia Bancorp during the 4th quarter valued at $205,000. OMERS ADMINISTRATION Corp bought a new stake in Avidia Bancorp during the 4th quarter valued at $208,000. Occudo Quantitative Strategies LP bought a new stake in Avidia Bancorp during the 4th quarter valued at $227,000. Jane Street Group LLC bought a new stake in Avidia Bancorp during the 4th quarter valued at $260,000. Finally, Deprince Race & Zollo Inc. bought a new stake in Avidia Bancorp during the 1st quarter valued at $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.