Avidia Bancorp (NYSE:AVBC – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09, Zacks reports. Avidia Bancorp had a return on equity of 4.62% and a net margin of 11.51%. The company had revenue of $31.16 million for the quarter, compared to analysts’ expectations of $30.08 million.
Avidia Bancorp Stock Performance
AVBC stock opened at $22.31 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 1.05. Avidia Bancorp has a 1 year low of $14.53 and a 1 year high of $22.90. The company has a market cap of $445.45 million, a P/E ratio of 23.37 and a beta of -0.44. The stock’s fifty day moving average price is $22.00 and its 200-day moving average price is $20.94.
Avidia Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Tuesday, November 17th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 17th. Avidia Bancorp’s dividend payout ratio (DPR) is 25.26%.
Insider Activity at Avidia Bancorp
In other news, Director Joseph F. Grimaldo bought 5,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $22.02 per share, with a total value of $110,100.00. Following the completion of the transaction, the director owned 49,655 shares of the company’s stock, valued at approximately $1,093,403.10. This trade represents a 11.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas Doane bought 1,726 shares of the company’s stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $22.31 per share, for a total transaction of $38,507.06. Following the completion of the transaction, the executive vice president directly owned 19,422 shares of the company’s stock, valued at approximately $433,304.82. The trade was a 9.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 16,226 shares of company stock valued at $359,062 in the last 90 days. 3.40% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
AVBC has been the subject of a number of recent analyst reports. Seaport Research Partners reissued a “buy” rating and issued a $25.00 target price on shares of Avidia Bancorp in a research report on Friday, July 24th. Hovde Group started coverage on shares of Avidia Bancorp in a report on Monday, October 5th. They set an “outperform” rating and a $26.00 price target on the stock. Zacks Research downgraded shares of Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, Weiss Ratings upgraded shares of Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.00.
Check Out Our Latest Research Report on AVBC
Avidia Bancorp Company Profile
Avidia Bancorp, Inc is the holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. The company serves consumers, businesses and nonprofit organizations primarily across central Massachusetts and the MetroWest region.
Avidia Bank provides a range of banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans and commercial lending. Its business banking offerings include commercial real estate loans, business lines of credit, cash management and deposit services.
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