Avidia Bancorp, Inc. (NYSE:AVBC – Get Free Report) Director Micheal Neil Flanigan sold 5,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $22.34, for a total transaction of $111,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Avidia Bancorp Trading Down 0.5%
AVBC stock opened at $21.91 on Friday. The company has a market cap of $437.54 million, a price-to-earnings ratio of 23.06 and a beta of -0.44. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $21.92 and a 200-day simple moving average of $20.76. Avidia Bancorp, Inc. has a 52 week low of $14.31 and a 52 week high of $22.90.
Avidia Bancorp (NYSE:AVBC – Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. Avidia Bancorp had a return on equity of 4.62% and a net margin of 11.51%. The company had revenue of $29.87 million for the quarter, compared to the consensus estimate of $28.79 million. On average, equities research analysts expect that Avidia Bancorp, Inc. will post 1.44 EPS for the current year.
Avidia Bancorp Increases Dividend
Institutional Investors Weigh In On Avidia Bancorp
A number of large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP grew its stake in shares of Avidia Bancorp by 22.3% during the second quarter. Engineers Gate Manager LP now owns 15,420 shares of the company’s stock valued at $324,000 after acquiring an additional 2,813 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Avidia Bancorp in the second quarter worth about $372,000. Deprince Race & Zollo Inc. acquired a new position in shares of Avidia Bancorp in the first quarter worth about $399,000. Bank of America Corp DE boosted its holdings in Avidia Bancorp by 217.5% in the first quarter. Bank of America Corp DE now owns 26,512 shares of the company’s stock valued at $521,000 after purchasing an additional 18,163 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Avidia Bancorp by 254.9% in the first quarter. Renaissance Technologies LLC now owns 43,300 shares of the company’s stock valued at $852,000 after purchasing an additional 31,100 shares during the last quarter.
Analyst Upgrades and Downgrades
Several research analysts have commented on AVBC shares. Zacks Research lowered Avidia Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Seaport Research Partners reaffirmed a “buy” rating and issued a $25.00 target price on shares of Avidia Bancorp in a research report on Friday, July 24th. Weiss Ratings upgraded Avidia Bancorp from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Finally, Hovde Group assumed coverage on Avidia Bancorp in a report on Monday, October 5th. They set an “outperform” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.00.
View Our Latest Analysis on Avidia Bancorp
About Avidia Bancorp
Avidia Bancorp, Inc is the bank holding company for Avidia Bank, a community-focused financial institution headquartered in Hudson, Massachusetts. Through Avidia Bank, the company provides banking and financial services to individuals, families, businesses and nonprofit organizations.
Avidia Bank’s products and services include checking and savings accounts, certificates of deposit, residential and consumer loans, mortgages, home equity financing, commercial real estate lending and business loans.
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