Jonathan Michael Nelson Buys 4,500 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CFO Jonathan Michael Nelson bought 4,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average cost of $22.19 per share, for a total transaction of $99,855.00. Following the completion of the transaction, the chief financial officer owned 19,045 shares of the company’s stock, valued at $422,608.55. This represents a 30.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Avidia Bancorp Stock Up 0.4%

Shares of NYSE:AVBC opened at $22.14 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $442.14 million and a PE ratio of 23.31. Avidia Bancorp, Inc. has a 52 week low of $14.31 and a 52 week high of $22.90. The firm has a 50 day simple moving average of $21.45 and a 200 day simple moving average of $20.24.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. Avidia Bancorp had a net margin of 11.51% and a return on equity of 4.62%. The firm had revenue of $29.87 million for the quarter, compared to analysts’ expectations of $28.79 million. As a group, research analysts expect that Avidia Bancorp, Inc. will post 1.44 earnings per share for the current year.

Avidia Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. This is a boost from Avidia Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, August 18th. Avidia Bancorp’s payout ratio is 25.26%.

Institutional Investors Weigh In On Avidia Bancorp

Institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC grew its holdings in shares of 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 acquiring an additional 27,160 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Avidia Bancorp during the fourth quarter worth $1,328,000. Millennium Management LLC purchased a new stake in shares of Avidia Bancorp during the fourth quarter worth $1,184,000. Commonwealth Equity Services LLC boosted its position in Avidia Bancorp by 29.1% during 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. Finally, State Street Corp boosted its position in Avidia Bancorp by 102.9% during the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock valued at $927,000 after purchasing an additional 27,960 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on AVBC. Seaport Research Partners reissued a “buy” rating and set a $25.00 price target on shares of Avidia Bancorp in a research report on Friday, July 24th. Weiss Ratings raised Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, Zacks Research upgraded Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.