Avidbank (OTC:AVBH) Announces Quarterly Earnings Results

Avidbank (OTC:AVBH) announced its earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12, Yahoo Finance reports. The business had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Stock Performance

Avidbank stock opened at $19.73 on Wednesday. Avidbank has a 1 year low of $18.16 and a 1 year high of $22.00. The business has a 50-day simple moving average of $19.51. The company has a market cap of $155.28 million, a P/E ratio of 10.33 and a beta of 0.69.

Analysts Set New Price Targets

AVBH has been the subject of several recent analyst reports. Stephens decreased their price objective on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Janney Montgomery Scott started coverage on Avidbank in a report on Friday, July 12th. They issued a “neutral” rating and a $21.00 price objective for the company.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties. The company offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.