Avidia Bancorp (NYSE:AVBC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Avidia reported QEPS of $0.32, beating estimates by $0.02, but the company still posted a negative net margin (-2.23%) and negative return on equity (-1.17%).
• The stock traded at $20.42 with a market cap of about $410M, a P/E of 85.08 and a 52‑week range of $14.00–$21.43; the firm pays a $0.05 quarterly dividend (annualized $0.20, ~1.0% yield) with an 83.33% payout ratio.
• Senior insiders have been buying shares (insiders bought ~14,765 shares worth $281K over three months) and several institutions added or increased positions, but analyst sentiment is bearish with Weiss Ratings initiating a "sell (e+)" and a MarketBeat average rating of "Sell".

Avidia Bancorp (NYSE:AVBC - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02, Zacks reports. Avidia Bancorp had a negative net margin of 2.23% and a negative return on equity of 1.17%.

Avidia Bancorp Stock Performance

NYSE:AVBC traded down $0.20 during trading hours on Thursday, hitting $20.42. The company's stock had a trading volume of 33,085 shares, compared to its average volume of 74,817. The company has a 50-day moving average price of $19.44. The firm has a market capitalization of $410.01 million and a P/E ratio of 85.08. 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 has a 52-week low of $14.00 and a 52-week high of $21.43.

Avidia Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th were given a $0.05 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.20 annualized dividend and a yield of 1.0%. Avidia Bancorp's dividend payout ratio is presently 83.33%.

Insiders Place Their Bets

In related news, EVP Barry H. Jensen acquired 2,000 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average price of $18.71 per share, with a total value of $37,420.00. Following the completion of the acquisition, the executive vice president owned 38,000 shares in the company, valued at approximately $710,980. This represents a 5.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bartholomew H. Murphy, Jr. bought 1,500 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of $19.15 per share, with a total value of $28,725.00. Following the completion of the acquisition, the executive vice president owned 23,000 shares of the company's stock, valued at $440,450. This represents a 6.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 14,765 shares of company stock worth $281,130.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVBC. Renaissance Technologies LLC purchased a new position in Avidia Bancorp in the fourth quarter valued at about $205,000. Commonwealth Equity Services LLC increased its holdings in Avidia Bancorp by 29.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company's stock valued at $1,157,000 after buying an additional 15,500 shares in the last quarter. Jane Street Group LLC acquired a new position in Avidia Bancorp during the fourth quarter worth $260,000. State Street Corp boosted its position in Avidia Bancorp by 102.9% during the fourth quarter. State Street Corp now owns 55,122 shares of the company's stock worth $927,000 after purchasing an additional 27,960 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Avidia Bancorp during the fourth quarter worth $1,328,000.

Analysts Set New Price Targets

Separately, Weiss Ratings began 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, According to MarketBeat, the stock presently 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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