Avidia Bancorp (NYSE:AVBC) CFO Jonathan Michael Nelson Acquires 4,500 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) CFO Jonathan Michael Nelson acquired 4,500 shares of Avidia Bancorp stock in a transaction that occurred on Thursday, September 3rd. The shares were purchased at an average cost of $22.19 per share, for a total transaction of $99,855.00. Following the purchase, the chief financial officer directly owned 19,045 shares of the company’s stock, valued at approximately $422,608.55. This trade represents a 30.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Avidia Bancorp Price Performance

Avidia Bancorp stock opened at $22.13 on Friday. Avidia Bancorp, Inc. has a 52-week low of $14.31 and a 52-week high of $22.90. The firm has a fifty day moving average of $21.42 and a 200-day moving average of $20.22. The firm has a market capitalization of $441.94 million and a P/E ratio of 23.29. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.48.

Avidia Bancorp (NYSE:AVBC) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $28.79 million. As a group, analysts predict that Avidia Bancorp, Inc. will post 1.44 EPS for the current year.

Avidia Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 18th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 18th. This is an increase from Avidia Bancorp’s previous quarterly dividend of $0.05. Avidia Bancorp’s dividend payout ratio (DPR) is 25.26%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in shares of Avidia Bancorp in the 4th quarter worth about $205,000. Commonwealth Equity Services LLC lifted 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 buying an additional 15,500 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Avidia Bancorp in the 4th quarter valued at approximately $260,000. State Street Corp raised 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 valued at $927,000 after acquiring an additional 27,960 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Avidia Bancorp during the 4th quarter valued at approximately $1,328,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on AVBC shares. Seaport Research Partners reiterated a “buy” rating and set a $25.00 price objective on shares of Avidia Bancorp in a research note on Friday, July 24th. Weiss Ratings raised shares of Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Avidia Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock 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.