DA Davidson Has Bullish Outlook for Avidbank FY2024 Earnings

Avidbank Holdings (OTC:AVBH) – Equities researchers at DA Davidson increased their FY2024 earnings estimates for Avidbank in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner now anticipates that the company will post earnings per share of $2.60 for the year, up from their prior estimate of $2.45. The consensus estimate for Avidbank’s current full-year earnings is $2.43 per share. DA Davidson also issued estimates for Avidbank’s FY2025 earnings at $2.64 EPS.

Avidbank (OTC:AVBH) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. The firm had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million.

Several other brokerages also recently weighed in on AVBH. Janney Montgomery Scott began coverage on Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 target price on the stock. Stephens lowered their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd.

Avidbank Stock Up 0.6 %

Shares of AVBH opened at $20.25 on Friday. The firm has a market capitalization of $159.37 million, a P/E ratio of 10.33 and a beta of 0.69. Avidbank has a fifty-two week low of $18.16 and a fifty-two week high of $22.00. The business’s 50-day simple moving average is $19.56.

About Avidbank

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.