Avidbank (OTC:AVBH) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Avidbank (OTC:AVBH) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has $26.00 price target on the stock.

Separately, Stephens reduced their price objective 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 Performance

Shares of AVBH stock opened at $21.98 on Tuesday. Avidbank has a twelve month low of $18.16 and a twelve month high of $22.00. The firm’s 50-day moving average price is $19.91. The firm has a market cap of $173.00 million, a PE ratio of 11.07 and a beta of 0.68.

Avidbank (OTC:AVBH) last posted its earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.12. The firm had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million. On average, analysts expect that Avidbank will post 2.55 EPS for the current fiscal year.

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.