James Ball Buys 5,000 Shares of Avidia Bancorp (NYSE:AVBC) Stock

Key Points

• Director James Ball bought 5,000 shares on April 27 at an average price of $20.60 (a $103,000 purchase), bringing his direct holdings to 50,000 shares — an 11.11% increase in his position.
• The company announced a quarterly dividend of $0.05 per share (annualized $0.20, ~1.0% yield) with an ex-dividend date of May 19 and payment on May 28, and a dividend payout ratio of 83.33%.
• Avidia shares trade near $20.76 with a 52-week range of $14.00–$21.43, a market cap of ~$417 million and a high PE of 86.5, while analysts currently have a consensus rating of “Sell” (Weiss Ratings initiated coverage with a sell).

Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) Director James Ball bought 5,000 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $20.60 per share, with a total value of $103,000.00. Following the acquisition, the director directly owned 50,000 shares in the company, valued at $1,030,000. This trade represents a 11.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Avidia Bancorp Stock Performance

Shares of AVBC traded down $0.14 during midday trading on Wednesday, hitting $20.76. 11,017 shares of the company traded hands, compared to its average volume of 73,129. The firm has a 50 day simple moving average of $19.56. Avidia Bancorp, Inc. has a 52 week low of $14.00 and a 52 week high of $21.43. The stock has a market cap of $416.86 million and a PE ratio of 86.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Avidia Bancorp (NYSE:AVBC - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.32 EPS for the quarter, beating 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. Sell-side analysts predict that Avidia Bancorp, Inc. will post 1.31 earnings per share for the current fiscal year.

Avidia Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. 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 is 83.33%.

Institutional Trading of Avidia Bancorp

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in Avidia Bancorp during the 4th quarter valued at about $205,000. OMERS ADMINISTRATION Corp purchased a new stake in Avidia Bancorp during the 4th quarter valued at about $208,000. Occudo Quantitative Strategies LP purchased a new stake in Avidia Bancorp during the 4th quarter valued at about $227,000. Jane Street Group LLC purchased a new stake in shares of Avidia Bancorp in the 4th quarter valued at approximately $260,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Avidia Bancorp in the 1st quarter valued at approximately $399,000.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of Avidia Bancorp in a 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, Avidia Bancorp currently 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.

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