Thomas Doane Purchases 1,726 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Thomas Doane acquired 1,726 shares of the company’s stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $22.31 per share, with a total value of $38,507.06. Following the acquisition, the executive vice president owned 19,422 shares in the company, valued at approximately $433,304.82. This trade represents a 9.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Avidia Bancorp Stock Performance

Shares of AVBC stock opened at $21.90 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. Avidia Bancorp, Inc. has a fifty-two week low of $14.31 and a fifty-two week high of $22.90. The company has a market cap of $437.34 million and a price-to-earnings ratio of 23.05. The stock has a 50 day simple moving average of $21.02.

Avidia Bancorp (NYSE:AVBC) last announced its earnings results on Monday, July 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Avidia Bancorp had a return on equity of 4.62% and a net margin of 11.51%.The company had revenue of $29.87 million during the quarter, compared to the consensus estimate of $28.79 million. As a group, equities analysts predict that Avidia Bancorp, Inc. will post 1.44 EPS for the current year.

Avidia Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be issued a $0.06 dividend. This is a boost from Avidia Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 18th. This represents a $0.24 annualized dividend and a yield of 1.1%. Avidia Bancorp’s dividend payout ratio (DPR) is currently 25.26%.

Analyst Upgrades and Downgrades

AVBC has been the topic of several research analyst reports. Zacks Research upgraded shares of Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Avidia Bancorp in a report on Wednesday, July 29th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $25.00 target price on shares of Avidia Bancorp in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Trading of Avidia Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in Avidia Bancorp during the fourth quarter valued at $1,328,000. Millennium Management LLC purchased a new position in shares of Avidia Bancorp in the 4th quarter worth about $1,184,000. Renaissance Technologies LLC raised its position in shares of Avidia Bancorp by 254.9% in 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. State Street Corp boosted its stake in 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, Ancora Advisors LLC grew its position in Avidia Bancorp by 36.0% during the 2nd quarter. Ancora Advisors LLC now owns 102,550 shares of the company’s stock valued at $2,153,000 after purchasing an additional 27,160 shares during the last quarter.

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.