Piper Sandler Trims Avidbank (OTCMKTS:AVBH) Target Price to $23.00

Avidbank (OTCMKTS:AVBH) had its price objective cut by research analysts at Piper Sandler from $24.00 to $23.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 19.98% from the stock’s previous close.

Avidbank Trading Up 3.1 %

Shares of OTCMKTS:AVBH traded up $0.58 during mid-day trading on Friday, hitting $19.17. 1,200 shares of the company traded hands, compared to its average volume of 380. The stock has a market cap of $149.53 million, a P/E ratio of 9.22 and a beta of 0.66. The stock has a 50-day moving average price of $18.95 and a two-hundred day moving average price of $20.16. Avidbank has a 12-month low of $13.25 and a 12-month high of $22.00.

Avidbank (OTCMKTS:AVBH) last released its quarterly earnings results on Monday, January 22nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The firm had revenue of $29.26 million for the quarter, compared to analysts’ expectations of $18.92 million. As a group, analysts expect that Avidbank will post 2.81 earnings per share for the current year.

Avidbank Company Profile

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.