Avidia Bancorp (NYSE:AVBC) EVP Purchases $25,327.20 in Stock

Key Points

• EVP Nicolas Karmelek purchased 1,220 shares at an average price of $20.76 on April 28 for a total of $25,327.20, raising his direct ownership to 7,705 shares — an 18.81% increase.
• Avidia beat expectations for the quarter with $0.32 EPS vs. $0.30 expected and revenue of $28.27 million (vs. $28.11M), and analysts forecast ~1.31 EPS for the current year.
• The company announced a quarterly dividend of $0.05 (annualized $0.20) payable May 28, implying a ~1.0% yield and a dividend payout ratio of 35.71% (ex-dividend date May 19).

Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Nicolas Karmelek purchased 1,220 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average cost of $20.76 per share, with a total value of $25,327.20. Following the completion of the acquisition, the executive vice president directly owned 7,705 shares in the company, valued at approximately $159,955.80. This represents a 18.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nicolas Karmelek also recently made the following trade(s):

• On Monday, March 2nd, Nicolas Karmelek purchased 1,090 shares of Avidia Bancorp stock. The shares were acquired at an average cost of $18.59 per share, with a total value of $20,263.10.

Avidia Bancorp Stock Up 1.6%

AVBC stock traded up $0.32 during midday trading on Thursday, reaching $20.77. 29,051 shares of the company's stock traded hands, compared to its average volume of 73,101. The business has a 50-day moving average of $19.59. Avidia Bancorp, Inc. has a 1-year low of $14.00 and a 1-year high of $21.43. The stock has a market cap of $416.94 million and a P/E ratio of 37.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Avidia Bancorp (NYSE:AVBC - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. The business had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.11 million. Equities research analysts forecast that Avidia Bancorp, Inc. will post 1.31 EPS for the current year.

Avidia Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Avidia Bancorp's dividend payout ratio (DPR) is 35.71%.

Institutional Investors Weigh In On Avidia Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth $205,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth $208,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth $227,000. Jane Street Group LLC acquired a new stake in shares of Avidia Bancorp during the fourth quarter worth $260,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Avidia Bancorp by 29.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company's stock worth $1,157,000 after purchasing an additional 15,500 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on Avidia Bancorp in a research report on Wednesday, February 11th. They set a "sell (e+)" rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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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