697,886 Shares in Avidbank Holdings Inc. $AVBH Bought by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. acquired a new position in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 697,886 shares of the company’s stock, valued at approximately $17,796,000. Avidbank accounts for 5.4% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 6th biggest holding. Endeavour Capital Advisors Inc. owned 0.06% of Avidbank at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. BetterWealth LLC acquired a new position in shares of Avidbank in the 3rd quarter valued at approximately $216,000. ELCO Management Co. LLC bought a new position in Avidbank in the third quarter valued at approximately $396,000. Algebris UK Ltd. bought a new position in Avidbank in the third quarter valued at approximately $3,123,000. Finally, Vanguard Group Inc. acquired a new position in Avidbank during the third quarter valued at approximately $3,401,000. 15.87% of the stock is currently owned by institutional investors and hedge funds.

Avidbank Stock Down 1.4%

Shares of AVBH stock opened at $29.64 on Thursday. The company has a market cap of $324.56 million, a price-to-earnings ratio of -14.75 and a beta of 0.38. Avidbank Holdings Inc. has a twelve month low of $19.75 and a twelve month high of $31.22. 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 stock’s fifty day moving average price is $27.84.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVBH. DA Davidson raised their target price on Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.00.

Avidbank Company Profile

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.