Avidia Bancorp (NYSE:AVBC) Stock: Insider Micheal Neil Flanigan Sells 900 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) Director Micheal Neil Flanigan sold 900 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $23.24, for a total transaction of $20,916.00. Following the transaction, the director directly owned 100 shares in the company, valued at $2,324. This trade represents a 90.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Micheal Neil Flanigan also recently made the following trade(s):

• On Friday, September 18th, Micheal Neil Flanigan sold 5,000 shares of Avidia Bancorp stock. The shares were sold at an average price of $22.34, for a total transaction of $111,700.00.

Avidia Bancorp Stock Performance

Avidia Bancorp stock traded down $0.09 during mid-day trading on Friday, reaching $22.52. The company had a trading volume of 38,808 shares, compared to its average volume of 106,213. 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, Inc. has a 52 week low of $14.84 and a 52 week high of $24.00. The company has a 50 day moving average of $22.21 and a 200-day moving average of $20.71. The firm has a market cap of $449.72 million, a price-to-earnings ratio of 15.32 and a beta of -0.50.

Avidia Bancorp (NYSE:AVBC) last posted its quarterly earnings results on Friday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. Avidia Bancorp had a net margin of 17.49% and a return on equity of 7.06%. The company had revenue of $31.16 million for the quarter, compared to analyst estimates of $30.08 million. On average, sell-side analysts expect that Avidia Bancorp, Inc. will post 1.55 EPS for the current fiscal year.

Avidia Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Tuesday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.24 dividend on an annualized basis and a yield of 1.1%. Avidia Bancorp’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVBC shares. Seaport Research Partners reiterated a “buy” rating and set a $25.00 price target on shares of Avidia Bancorp in a research note on Friday, July 24th. Zacks Research cut shares of Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Hovde Group initiated coverage on shares of Avidia Bancorp in a report on Monday, October 5th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Weiss Ratings raised shares of Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.00.

Institutional Investors Weigh In On Avidia Bancorp

A number of institutional investors have recently added to or reduced their stakes in AVBC. Ancora Advisors LLC grew its stake in shares of Avidia Bancorp by 36.0% in 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 period. Russell Investments Group Ltd. lifted its position in shares of Avidia Bancorp by 36.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 90,431 shares of the company’s stock worth $1,953,000 after buying an additional 24,354 shares during the period. 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 buying an additional 31,100 shares during the period. Bank of America Corp DE boosted its stake in Avidia Bancorp by 217.5% in the 1st quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock valued at $521,000 after buying an additional 18,163 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Avidia Bancorp in the 2nd quarter valued at $372,000.

Avidia Bancorp Company Profile

Avidia Bancorp, Inc is the holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. The company serves consumers, businesses and nonprofit organizations primarily across central Massachusetts and the MetroWest region.

Avidia Bank provides a range of banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending. Its business banking offerings include commercial real estate loans, business lines of credit, cash management and deposit services.