Avidbank Holdings Inc. $AVBH Shares Purchased by Maltese Capital Management LLC

Maltese Capital Management LLC boosted its holdings in Avidbank Holdings Inc. (NASDAQ:AVBH) by 38.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,000 shares of the company’s stock after purchasing an additional 85,000 shares during the quarter. Avidbank comprises approximately 1.4% of Maltese Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Maltese Capital Management LLC owned approximately 2.79% of Avidbank worth $8,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fourthstone LLC boosted its holdings in Avidbank by 4.7% in the fourth quarter. Fourthstone LLC now owns 1,091,019 shares of the company’s stock valued at $28,977,000 after purchasing an additional 48,850 shares in the last quarter. Patriot Financial Partners GP II L.P. acquired a new position in Avidbank in the third quarter valued at approximately $26,798,000. Alliancebernstein L.P. acquired a new position in Avidbank in the third quarter valued at approximately $21,780,000. Endeavour Capital Advisors Inc. acquired a new position in Avidbank in the third quarter valued at approximately $17,796,000. Finally, Banc Funds Co. LLC acquired a new position in Avidbank in the third quarter valued at approximately $17,282,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Avidbank Price Performance

Shares of NASDAQ AVBH opened at $32.01 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $30.15 and a 200 day moving average price of $28.64. Avidbank Holdings Inc. has a 1-year low of $19.85 and a 1-year high of $32.98. The company has a market cap of $350.51 million, a PE ratio of -17.03 and a beta of 0.34.

Avidbank (NASDAQ:AVBH) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Avidbank had a positive return on equity of 10.88% and a negative net margin of 10.20%.The firm had revenue of $27.97 million during the quarter, compared to the consensus estimate of $28.10 million. Sell-side analysts forecast that Avidbank Holdings Inc. will post 3.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVBH shares. Weiss Ratings raised Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Stephens upped their price target on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. DA Davidson increased their price objective on Avidbank from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Piper Sandler decreased their price objective on Avidbank from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.33.

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.