Avidbank (OTCMKTS:AVBH) Price Target Cut to $23.00

Avidbank (OTCMKTS:AVBH) had its price target reduced by analysts at Stephens from $24.00 to $23.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ price target suggests a potential upside of 22.02% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reduced their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Janney Montgomery Scott initiated coverage on shares of Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 price target on the stock.

Avidbank Stock Performance

Avidbank stock traded down $0.57 during trading on Tuesday, reaching $18.85. The company had a trading volume of 10,743 shares, compared to its average volume of 5,609. Avidbank has a 12-month low of $18.25 and a 12-month high of $22.00. The stock’s 50 day moving average price is $18.78 and its two-hundred day moving average price is $19.08. The firm has a market capitalization of $147.41 million, a price-to-earnings ratio of 9.06 and a beta of 0.69.

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.