Avidia Bancorp (NYSE:AVBC) Shares Up 0.1% – Here’s What Happened

Avidia Bancorp, Inc. (NYSE:AVBC) shares rose 0.1% during trading on Monday . The stock traded as high as $20.60 and last traded at $20.4540. Approximately 66,880 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 67,720 shares. The stock had previously closed at $20.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on Avidia Bancorp in a research report on Wednesday, February 11th. They set a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Avidia Bancorp Stock Down 0.1%

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 market capitalization of $415.11 million and a P/E ratio of 86.14. The company has a fifty day moving average of $19.27.

Avidia Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, February 17th were given a $0.05 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.20 annualized dividend and a yield of 1.0%. Avidia Bancorp’s dividend payout ratio (DPR) is presently 83.33%.

Insider Buying and Selling at Avidia Bancorp

In other Avidia Bancorp news, EVP Bartholomew H. Murphy, Jr. purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $19.15 per share, for a total transaction of $28,725.00. Following the purchase, the executive vice president directly owned 23,000 shares of the company’s stock, valued at $440,450. The trade was a 6.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry H. Jensen acquired 2,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $18.71 per share, with a total value of $37,420.00. Following the transaction, the executive vice president owned 38,000 shares in the company, valued at approximately $710,980. This trade represents a 5.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 14,765 shares of company stock worth $281,130.

Institutional Trading of Avidia Bancorp

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Avidia Bancorp in the fourth quarter worth about $1,328,000. Millennium Management LLC bought a new position in shares of Avidia Bancorp during the 4th quarter valued at approximately $1,184,000. Commonwealth Equity Services LLC grew its stake in shares of Avidia Bancorp by 29.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 68,844 shares of the company’s stock valued at $1,157,000 after acquiring an additional 15,500 shares during the period. 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 worth $927,000 after acquiring an additional 27,960 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Avidia Bancorp in the 4th quarter worth approximately $260,000.

About Avidia Bancorp

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.