Avidia Bancorp (NYSE:AVBC) CEO Robert Cozzone Acquires 1,064 Shares of Stock

Avidia Bancorp, Inc. (NYSE:AVBC) CEO Robert Cozzone acquired 1,064 shares of the stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $18.79 per share, with a total value of $19,992.56. Following the completion of the purchase, the chief executive officer directly owned 63,206 shares in the company, valued at approximately $1,187,640.74. The trade was a 1.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Avidia Bancorp Stock Performance

Shares of NYSE AVBC traded down $0.11 during trading hours on Tuesday, hitting $18.50. 63,920 shares of the company traded hands, compared to its average volume of 77,368. Avidia Bancorp, Inc. has a 12 month low of $14.00 and a 12 month high of $19.95. The company has a market cap of $371.41 million and a P/E ratio of 77.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12.

Avidia Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Avidia Bancorp’s dividend payout ratio is currently 83.33%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on shares of Avidia Bancorp in a report on Wednesday, February 11th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Avidia Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of AVBC. Renaissance Technologies LLC purchased a new position in Avidia Bancorp during the fourth quarter valued at approximately $205,000. OMERS ADMINISTRATION Corp bought a new stake in Avidia Bancorp during the 4th quarter valued at $208,000. Occudo Quantitative Strategies LP purchased a new position in shares of Avidia Bancorp in the 4th quarter valued at $227,000. Jane Street Group LLC bought a new position in shares of Avidia Bancorp in the 4th quarter worth $260,000. Finally, State Street Corp lifted its stake 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 worth $927,000 after purchasing an additional 27,960 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.