Key Points
- EVP Barry Jensen bought 1,000 shares of Avidia Bancorp stock on May 8 at an average price of $20.19, increasing his direct holdings to 41,000 shares. The purchase was valued at $20,190 and lifted his ownership by 2.5%.
- Avidia Bancorp shares were down 3.9% and opened at $19.42, leaving the stock near its 50-day average of $19.77 and below its 52-week high of $21.43.
- The company recently beat quarterly earnings estimates, reporting $0.32 EPS versus the expected $0.30, and also declared a quarterly dividend of $0.05 per share, payable May 28.
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) EVP Barry Jensen bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $20.19 per share, with a total value of $20,190.00. Following the transaction, the executive vice president directly owned 41,000 shares in the company, valued at $827,790. This represents a 2.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Avidia Bancorp Stock Down 3.9%
Shares of AVBC opened at $19.42 on Tuesday. Avidia Bancorp, Inc. has a 52-week low of $14.00 and a 52-week high of $21.43. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $389.78 million and a price-to-earnings ratio of 34.67. The firm has a 50-day moving average of $19.77.
Avidia Bancorp (NYSE:AVBC - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. Avidia Bancorp had a net margin of 9.47% and a return on equity of 4.55%. The company had revenue of $28.27 million during the quarter, compared to the consensus estimate of $28.11 million. On average, equities analysts expect that Avidia Bancorp, Inc. will post 1.31 EPS for the current year.
Avidia Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Avidia Bancorp's dividend payout ratio is presently 35.71%.
Hedge Funds Weigh In On Avidia Bancorp
A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Avidia Bancorp in the 4th quarter valued at about $205,000. OMERS ADMINISTRATION Corp acquired a new position in Avidia Bancorp in the fourth quarter worth approximately $208,000. Occudo Quantitative Strategies LP acquired a new position in Avidia Bancorp in the fourth quarter worth approximately $227,000. Jane Street Group LLC acquired a new position in Avidia Bancorp in the fourth quarter worth approximately $260,000. Finally, 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 worth $1,157,000 after buying an additional 15,500 shares during the last quarter.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Avidia Bancorp from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Avidia Bancorp presently has a consensus rating of "Sell".
Check Out Our Latest Analysis on AVBC
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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