Avidbank (OTCMKTS:AVBH) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Avidbank (OTCMKTS:AVBH) released its quarterly earnings results on Monday. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.68 by $0.09, Zacks reports. The business had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Trading Up 0.6 %

Shares of AVBH traded up $0.13 during trading hours on Thursday, reaching $20.25. 5,910 shares of the stock traded hands, compared to its average volume of 4,748. The company has a market cap of $158.36 million, a price-to-earnings ratio of 9.74 and a beta of 0.69. Avidbank has a 52 week low of $18.16 and a 52 week high of $22.00. The stock has a fifty day simple moving average of $19.56 and a 200 day simple moving average of $19.10.

Wall Street Analyst Weigh In

AVBH has been the subject of a number of recent analyst reports. Stephens cut their price target 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 assumed coverage on Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 price objective for the company.

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.