Key Points
- CEO Robert Cozzone bought 2,128 shares of Avidia Bancorp at $18.80 each, spending a total of $40,006.40. After the purchase, he owned 67,357 shares, increasing his stake by 3.26%.
- Avidia Bancorp recently reported better-than-expected quarterly results, with EPS of $0.32 versus the $0.30 consensus and revenue of $28.27 million versus estimates of $28.11 million.
- The company also paid a quarterly dividend of $0.05 per share, equal to a 1.0% annualized yield, while Weiss Ratings recently upgraded the stock from “sell (e+)” to “sell (d-).”
Avidia Bancorp, Inc. (NYSE:AVBC - Get Free Report) CEO Robert Cozzone bought 2,128 shares of Avidia Bancorp stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $18.80 per share, with a total value of $40,006.40. Following the completion of the purchase, the chief executive officer owned 67,357 shares in the company, valued at $1,266,311.60. This trade represents a 3.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Avidia Bancorp Price Performance
Shares of AVBC opened at $19.08 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50-day moving average price of $19.80. The firm has a market cap of $383.03 million and a P/E ratio of 34.06. Avidia Bancorp, Inc. has a one year low of $14.00 and a one year high of $21.43.
Avidia Bancorp (NYSE:AVBC - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $28.27 million during the quarter, compared to the consensus estimate of $28.11 million. Avidia Bancorp had a return on equity of 4.31% and a net margin of 9.47%. Analysts expect that Avidia Bancorp, Inc. will post 1.31 EPS for the current fiscal year.
Avidia Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Avidia Bancorp's payout ratio is 35.71%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded Avidia Bancorp from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Avidia Bancorp presently has an average rating of "Sell".
View Our Latest Research Report on Avidia Bancorp
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in AVBC. Renaissance Technologies LLC purchased a new position in shares of Avidia Bancorp during the 4th quarter valued at $205,000. Commonwealth Equity Services LLC boosted its position in Avidia Bancorp by 29.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company's stock valued at $1,157,000 after buying an additional 15,500 shares during the period. Jane Street Group LLC purchased a new stake in Avidia Bancorp during the fourth quarter valued at about $260,000. State Street Corp boosted its position in Avidia Bancorp by 102.9% during the fourth quarter. State Street Corp now owns 55,122 shares of the company's stock valued at $927,000 after buying an additional 27,960 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Avidia Bancorp during the fourth quarter valued at about $1,328,000.
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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