Avidbank Holdings Inc. (NASDAQ:AVBH) Sees Large Decline in Short Interest

Avidbank Holdings Inc. (NASDAQ:AVBH) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 56,508 shares, a decline of 13.5% from the December 31st total of 65,300 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 75,352 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 75,352 shares, the short-interest ratio is presently 0.7 days. Currently, 0.5% of the company’s stock are sold short.

Avidbank Stock Up 3.1%

NASDAQ:AVBH opened at $30.01 on Tuesday. Avidbank has a twelve month low of $19.75 and a twelve month high of $30.31. The firm has a market cap of $328.61 million, a price-to-earnings ratio of -14.93 and a beta of 0.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day moving average is $26.89.

Avidbank (NASDAQ:AVBH) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.11). The company had revenue of $26.78 million during the quarter, compared to analyst estimates of $25.70 million. Avidbank had a negative net margin of 12.88% and a positive return on equity of 10.42%.

Institutional Investors Weigh In On Avidbank

A number of institutional investors and hedge funds have recently modified their holdings of AVBH. BetterWealth LLC acquired a new stake in Avidbank in the 3rd quarter valued at about $216,000. Algebris UK Ltd. bought a new stake in Avidbank in the third quarter valued at approximately $3,123,000. ELCO Management Co. LLC acquired a new stake in shares of Avidbank in the third quarter valued at approximately $396,000. Vanguard Group Inc. acquired a new stake in shares of Avidbank in the third quarter valued at approximately $3,401,000. Finally, Endeavour Capital Advisors Inc. bought a new position in shares of Avidbank during the 3rd quarter worth approximately $17,796,000. 15.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Avidbank in a research note on Wednesday, January 21st. DA Davidson increased their target price on shares of Avidbank from $31.50 to $33.00 and gave the stock a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Avidbank currently has an average rating of “Buy” and an average price target of $32.00.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.