Key Points
- CEO Robert Cozzone bought 2,023 shares of Avidia Bancorp at an average price of $19.77, a transaction worth about $39,995. After the purchase, his direct holdings rose to 65,229 shares, increasing his ownership by 3.2%.
- Avidia Bancorp recently reported quarterly earnings of $0.32 per share, topping analyst estimates of $0.30, while revenue also came in slightly ahead of expectations at $28.27 million.
- The company declared a quarterly dividend of $0.05 per share, equal to a 1.1% annualized yield, and analysts currently maintain an overall Sell rating on the stock.
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) CEO Robert Cozzone purchased 2,023 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $19.77 per share, with a total value of $39,994.71. Following the purchase, the chief executive officer directly owned 65,229 shares of the company's stock, valued at $1,289,577.33. The trade was a 3.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Avidia Bancorp Stock Performance
AVBC opened at $18.89 on Friday. Avidia Bancorp, Inc. has a one year low of $14.00 and a one year high of $21.43. The stock has a market cap of $379.31 million and a P/E ratio of 33.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a 50-day simple moving average of $19.81.
Avidia Bancorp (NYSE:AVBC - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. Avidia Bancorp had a return on equity of 4.55% and a net margin of 9.47%.The business had revenue of $28.27 million for the quarter, compared to the consensus estimate of $28.11 million. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Avidia Bancorp's payout ratio is 35.71%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised shares of Avidia Bancorp from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Avidia Bancorp has an average rating of "Sell".
Check Out Our Latest Stock Analysis on AVBC
Hedge Funds Weigh In On Avidia Bancorp
Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of Avidia Bancorp during the fourth quarter worth approximately $205,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Avidia Bancorp during the fourth quarter worth approximately $208,000. Occudo Quantitative Strategies LP purchased a new position in shares of Avidia Bancorp during the fourth quarter worth approximately $227,000. Jane Street Group LLC purchased a new position in shares of Avidia Bancorp during the fourth quarter worth approximately $260,000. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Avidia Bancorp during the first quarter worth approximately $399,000.
Avidia Bancorp Company Profile
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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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