Key Points
- CFO purchase: Avidia Bancorp CFO Jonathan Michael Nelson bought 2,579 shares on March 9 at $19.39 each for $50,006.81, increasing his holding to 22,378 shares (a 13.03% rise) valued at about $433,909.
- Analyst view: Weiss Ratings initiated coverage with a "sell (e+)" and MarketBeat's consensus rating for AVBC is currently "Sell".
- Dividend and payout risk: the firm pays a $0.05 quarterly dividend ($0.20 annualized) for a 1.0% yield, but the payout ratio is elevated at 83.33%.
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) CFO Jonathan Michael Nelson bought 2,579 shares of Avidia Bancorp stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average price of $19.39 per share, with a total value of $50,006.81. Following the purchase, the chief financial officer owned 22,378 shares of the company's stock, valued at $433,909.42. This trade represents a 13.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Avidia Bancorp Price Performance
AVBC stock opened at $19.13 on Wednesday. Avidia Bancorp, Inc. has a twelve month low of $14.00 and a twelve month high of $19.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $384.03 million and a P/E ratio of 79.69.
Avidia Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Avidia Bancorp's payout ratio is currently 83.33%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Avidia Bancorp during the fourth quarter worth about $205,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Avidia Bancorp in the 4th quarter valued at approximately $208,000. Occudo Quantitative Strategies LP bought a new position in Avidia Bancorp in the 4th quarter valued at $227,000. Jane Street Group LLC acquired a new stake in Avidia Bancorp in the fourth quarter worth about $260,000. Finally, State Street Corp grew its position in shares of Avidia Bancorp by 102.9% during the 4th quarter. State Street Corp now owns 55,122 shares of the company's stock worth $927,000 after buying an additional 27,960 shares during the period.
Analysts Set New Price Targets
Separately, Weiss Ratings initiated coverage on shares of Avidia Bancorp in a research note on Wednesday, February 11th. They set a "sell (e+)" rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".
Read Our Latest Report on Avidia Bancorp
About Avidia Bancorp
(
Get Free Report)
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.
Further Reading
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