Key Points
- Executive insider purchase: EVP Bartholomew Murphy, Jr. acquired 1,500 shares on March 18 at an average price of $19.15 ($28,725), increasing his direct stake to 23,000 shares (a 6.98% rise), per an SEC filing.
- Company financials & dividend: AVBC traded near $19.19 with a market cap of about $385M and a P/E of 79.96; the bank pays a quarterly $0.05 dividend (annualized $0.20, ~1.0% yield) with an 83.33% payout ratio.
- Mixed market sentiment: Analysts' consensus is a "Sell" (Weiss Ratings set "sell (e+)"), even as several institutions including Marshall Wace, Millennium, Commonwealth, State Street and Jane Street recently added or increased positions.
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Bartholomew Murphy, Jr. acquired 1,500 shares of the stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $19.15 per share, for a total transaction of $28,725.00. Following the completion of the purchase, the executive vice president directly owned 23,000 shares in the company, valued at $440,450. The trade was a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Avidia Bancorp Trading Up 1.0%
NYSE:AVBC traded up $0.19 during mid-day trading on Friday, hitting $19.19. The stock had a trading volume of 2,076 shares, compared to its average volume of 75,455. The company has a market capitalization of $385.34 million and a P/E ratio of 79.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.12 and a current ratio of 1.12. Avidia Bancorp, Inc. has a twelve month low of $14.00 and a twelve month high of $19.95.
Avidia Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, February 17th were paid 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 was Tuesday, February 17th. Avidia Bancorp's payout ratio is currently 83.33%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings started coverage on Avidia Bancorp in a report on Wednesday, February 11th. They set a "sell (e+)" rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".
Check Out Our Latest Stock Analysis on Avidia Bancorp
Institutional Investors Weigh In On Avidia Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in Avidia Bancorp in the 4th quarter valued at $1,328,000. Millennium Management LLC acquired a new stake in shares of Avidia Bancorp in the 4th quarter valued at $1,184,000. Commonwealth Equity Services LLC increased its stake in shares of 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 during the last quarter. State Street Corp lifted 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 last quarter. Finally, Jane Street Group LLC bought a new position in Avidia Bancorp in the fourth quarter valued at about $260,000.
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.
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