Avidia Bancorp (NYSE:AVBC) EVP Nicolas Karmelek Acquires 1,090 Shares

Avidia Bancorp, Inc. (NYSE:AVBC) EVP Nicolas Karmelek bought 1,090 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of $18.59 per share, for a total transaction of $20,263.10. Following the completion of the acquisition, the executive vice president directly owned 6,485 shares in the company, valued at approximately $120,556.15. This represents a 20.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Avidia Bancorp Stock Performance

AVBC stock opened at $18.61 on Wednesday. Avidia Bancorp, Inc. has a 12 month low of $14.00 and a 12 month high of $19.95. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, February 17th. Avidia Bancorp’s dividend payout ratio is 83.33%.

Institutional Investors Weigh In On Avidia Bancorp

Several hedge funds have recently bought and sold shares of the business. Occudo Quantitative Strategies LP purchased a new position in Avidia Bancorp during the 4th quarter valued at about $227,000. Millennium Management LLC acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth approximately $1,184,000. OMERS ADMINISTRATION Corp purchased a new position in Avidia Bancorp during the fourth quarter valued at approximately $208,000. Marshall Wace LLP purchased a new position in Avidia Bancorp during the fourth quarter valued at approximately $1,328,000. Finally, State Street Corp increased its stake in Avidia Bancorp by 102.9% in the 4th quarter. State Street Corp now owns 55,122 shares of the company’s stock valued at $927,000 after buying an additional 27,960 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on Avidia Bancorp in a report on Wednesday, February 11th. They set a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.