Avidbank (OTCMKTS:AVBH) Releases Earnings Results, Beats Estimates By $0.09 EPS

Avidbank (OTCMKTS:AVBH) posted its quarterly earnings data on Monday. The company reported $0.77 earnings per share 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 the consensus estimate of $20.18 million.

Avidbank Price Performance

Shares of AVBH traded up $0.13 on Thursday, reaching $20.25. 5,910 shares of the stock traded hands, compared to its average volume of 4,748. The firm 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 12 month low of $18.16 and a 12 month high of $22.00. The stock’s 50-day moving average price is $19.56 and its 200-day moving average price is $19.10.

Analyst Ratings Changes

A number of brokerages have weighed in on AVBH. Stephens reduced 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 shares of Avidbank in a research report on Friday, July 12th. They set 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.