Avidia Bancorp (NYSE:AVBC) Stock Price Down 0.2% – Time to Sell?

Avidia Bancorp, Inc. (NYSE:AVBC) fell 0.2% during trading on Thursday . The stock traded as low as $20.07 and last traded at $20.1730. Approximately 106,912 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 69,360 shares. The stock had previously closed at $20.21.

Wall Street Analyst Weigh In

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

Avidia Bancorp Price Performance

The firm has a market cap of $406.94 million and a PE ratio of 36.20. The stock has a fifty day simple moving average of $19.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08.

Avidia Bancorp (NYSE:AVBC) last posted its earnings results on Monday, April 27th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Avidia Bancorp had a return on equity of 4.31% 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. On average, research analysts expect that Avidia Bancorp, Inc. will post 1.31 EPS for the current year.

Avidia Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Avidia Bancorp’s dividend payout ratio (DPR) is presently 35.71%.

Insider Transactions at Avidia Bancorp

In related news, EVP Thomas Doane bought 2,040 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $21.16 per share, with a total value of $43,166.40. Following the completion of the transaction, the executive vice president directly owned 17,495 shares of the company’s stock, valued at $370,194.20. This trade represents a 13.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James N. Ball purchased 5,000 shares of the stock in a transaction on Monday, April 27th. The shares were bought at an average price of $20.60 per share, for a total transaction of $103,000.00. Following the acquisition, the director owned 50,000 shares of the company’s stock, valued at approximately $1,030,000. The trade was a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 17,261 shares of company stock worth $349,794.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Avidia Bancorp during the fourth quarter valued at about $1,328,000. Millennium Management LLC bought a new position in shares of Avidia Bancorp in the fourth quarter worth about $1,184,000. Commonwealth Equity Services LLC lifted its position in shares of Avidia Bancorp by 29.1% during the 4th 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 lifted its position 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 purchasing an additional 27,960 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Avidia Bancorp by 254.9% during the 1st quarter. Renaissance Technologies LLC now owns 43,300 shares of the company’s stock worth $852,000 after purchasing an additional 31,100 shares during the last quarter.

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.