Avidia Bancorp (NYSE:AVBC) EVP Buys $18,690.00 in Stock

Key Points

• EVP Barry Jensen purchased 1,000 shares on March 12 at $18.69 each (total $18,690), raising his stake to 39,000 shares—a 2.63% increase—according to an SEC filing.
• Research coverage is negative: Weiss Ratings initiated a "sell (e+)" and the stock's average rating on MarketBeat is listed as "Sell".
• Avidia recently paid a $0.05 quarterly dividend (paid Feb. 26), which annualizes to $0.20 for a yield of about 1.1% and implies a payout ratio of 83.33%.

Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Barry Jensen acquired 1,000 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $18.69 per share, with a total value of $18,690.00. Following the completion of the purchase, the executive vice president owned 39,000 shares in the company, valued at approximately $728,910. This trade represents a 2.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Avidia Bancorp Stock Up 0.1%

Avidia Bancorp stock traded up $0.02 during midday trading on Friday, hitting $18.77. 31,841 shares of the company were exchanged, compared to its average volume of 76,190. The firm has a market cap of $376.86 million and a price-to-earnings ratio of 78.73. Avidia Bancorp, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $19.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.

Avidia Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Avidia Bancorp during the 4th quarter worth approximately $205,000. OMERS ADMINISTRATION Corp acquired a new stake in Avidia Bancorp in the 4th quarter valued at about $208,000. Occudo Quantitative Strategies LP purchased a new position in Avidia Bancorp in the fourth quarter worth approximately $227,000. Jane Street Group LLC acquired a new position in shares of Avidia Bancorp during the fourth quarter worth $260,000. Finally, State Street Corp increased its holdings in shares of 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 acquiring an additional 27,960 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on Avidia Bancorp in a report on Wednesday, February 11th. They issued a "sell (e+)" rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Avidia Bancorp has an average 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.

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