Robert Cozzone Acquires 2,582 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 2,582 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average price of $19.36 per share, with a total value of $49,987.52. Following the transaction, the chief executive officer owned 62,142 shares in the company, valued at $1,203,069.12. This represents a 4.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Avidia Bancorp Price Performance

NYSE:AVBC traded up $0.07 on Friday, reaching $19.14. The stock had a trading volume of 55,496 shares, compared to its average volume of 84,587. The firm has a market cap of $384.33 million and a price-to-earnings ratio of 79.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.77. 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 announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, February 17th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on Avidia Bancorp in a research note on Wednesday. They set a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Avidia Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in AVBC. State Street Corp lifted its stake in shares of Avidia Bancorp by 102.9% in the fourth quarter. State Street Corp now owns 55,122 shares of the company’s stock worth $927,000 after acquiring an additional 27,960 shares in the last quarter. Jane Street Group LLC acquired a new stake in Avidia Bancorp during the 4th quarter valued at approximately $260,000. Commonwealth Equity Services LLC increased its holdings in 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. Finally, Renaissance Technologies LLC acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at approximately $205,000.

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.