Key Points
- EVP Bartholomew Murphy, Jr. bought 1,500 shares at an average price of $19.09 (total $28,635) on March 9, raising his direct stake to 21,500 shares — a 7.5% increase disclosed in an SEC filing.
- AVBC shares traded down 1.6% to $18.77 with a market cap of $376.7M, a P/E of 78.19, and a 1-year range of $14.00–$19.95, while volume that day was well below average.
- The company paid a quarterly dividend of $0.05 (annualized $0.20, 1.1% yield) with an 83.3% payout ratio, and institutional activity shows several hedge funds building positions even as Weiss Ratings initiated coverage with a "sell (e+)" and MarketBeat lists the stock as a "Sell" on average.
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Bartholomew Murphy, Jr. acquired 1,500 shares of the stock in a transaction dated Monday, March 9th. The shares were bought at an average cost of $19.09 per share, with a total value of $28,635.00. Following the completion of the purchase, the executive vice president directly owned 21,500 shares in the company, valued at approximately $410,435. This trade represents a 7.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Avidia Bancorp Trading Down 1.6%
Shares of AVBC stock traded down $0.31 on Thursday, reaching $18.77. 7,833 shares of the stock were exchanged, compared to its average volume of 76,590. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.77. The company has a market cap of $376.73 million and a price-to-earnings ratio of 78.19. Avidia Bancorp, Inc. has a 1-year low of $14.00 and a 1-year high of $19.95.
Avidia Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Avidia Bancorp's payout ratio is 83.33%.
Hedge Funds Weigh In On Avidia Bancorp
A number of hedge funds have recently made changes to their positions in AVBC. Marshall Wace LLP purchased a new position in shares of Avidia Bancorp in the 4th quarter valued at $1,328,000. Millennium Management LLC purchased a new stake in Avidia Bancorp during the 4th quarter worth $1,184,000. State Street Corp increased its holdings in Avidia Bancorp by 102.9% in the 4th quarter. State Street Corp now owns 55,122 shares of the company's stock valued at $927,000 after purchasing an additional 27,960 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Avidia Bancorp by 29.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company's stock valued at $1,157,000 after purchasing an additional 15,500 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Avidia Bancorp in the fourth quarter valued at about $260,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings started coverage on Avidia Bancorp in a report on Wednesday, February 11th. They issued a "sell (e+)" rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, Avidia Bancorp has an average rating of "Sell".
View Our Latest Analysis on AVBC
Avidia Bancorp Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
