Avidia Bancorp (NYSE:AVBC) EVP Purchases $43,166.40 in Stock

Key Points

• EVP Thomas Doane bought 2,040 shares at an average price of $21.16 for a total of $43,166.40, increasing his stake by 13.2% to 17,495 shares (worth ~ $370,194).
• Recent results and dividend: Avidia reported $0.32 EPS for the quarter (beating the $0.30 consensus) and announced a $0.05 quarterly dividend (annualized $0.20, ~1.0% yield) with a payout ratio of 83.33%.
• Market and sentiment: Shares traded down 2.1% to $20.46, with a 52-week range of $14.00–$21.43, market cap ~$410.9M and a P/E of 85.26, while analyst coverage averages a "Sell" rating (Weiss Ratings: "sell (e+)").

Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Thomas Doane bought 2,040 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $21.16 per share, with a total value of $43,166.40. Following the purchase, the executive vice president directly owned 17,495 shares of the company's stock, valued at approximately $370,194.20. This trade represents a 13.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Avidia Bancorp Trading Down 2.1%

Shares of AVBC traded down $0.44 during mid-day trading on Wednesday, hitting $20.46. 57,150 shares of the company's stock were exchanged, compared to its average volume of 73,772. Avidia Bancorp, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $21.43. The stock has a market cap of $410.90 million and a price-to-earnings ratio of 85.26. The company has a 50 day simple moving average of $19.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Avidia Bancorp (NYSE:AVBC - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $28.11 million. On average, equities research analysts forecast that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current year.

Avidia Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Avidia Bancorp's dividend payout ratio (DPR) is presently 83.33%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in Avidia Bancorp in the fourth quarter valued at about $205,000. OMERS ADMINISTRATION Corp purchased a new position in Avidia Bancorp in the fourth quarter valued at about $208,000. Occudo Quantitative Strategies LP purchased a new position in Avidia Bancorp in the fourth quarter valued at about $227,000. Jane Street Group LLC purchased a new position in Avidia Bancorp in the fourth quarter valued at about $260,000. Finally, Deprince Race & Zollo Inc. purchased a new position in Avidia Bancorp in the first quarter valued at about $399,000.

Analyst Upgrades and Downgrades

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