Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Declines By 60.0%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 200 shares, a decline of 60.0% from the October 31st total of 500 shares. Based on an average trading volume of 4,700 shares, the days-to-cover ratio is presently 0.0 days.

Avidbank Trading Up 0.0 %

Shares of OTCMKTS AVBH opened at $22.20 on Thursday. Avidbank has a twelve month low of $18.16 and a twelve month high of $22.23. The stock has a 50 day moving average of $20.47 and a two-hundred day moving average of $19.50. The stock has a market cap of $174.74 million, a P/E ratio of 11.33 and a beta of 0.68.

Avidbank (OTCMKTS: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 $0.68 by $0.09. The firm had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million. As a group, research analysts predict that Avidbank will post 2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, November 12th.

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.