Avidbank Holdings Inc. (NASDAQ:AVBH) Stock Has Consensus Price Target of $35.33

Shares of Avidbank Holdings Inc. (NASDAQ:AVBH) have been given an average recommendation of “Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $35.33.

Several equities research analysts have issued reports on AVBH shares. Benchmark raised Avidbank to a “strong-buy” rating in a report on Wednesday. Weiss Ratings raised shares of Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Avidbank from a “hold” rating to a “buy” rating in a report on Saturday, September 19th.

Hedge Funds Weigh In On Avidbank

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of Avidbank during the second quarter worth approximately $30,000. Public Employees Retirement System of Ohio acquired a new position in Avidbank in the 2nd quarter valued at $58,000. Bank of New York Mellon Corp bought a new position in Avidbank during the 1st quarter worth $207,000. Bank of America Corp DE lifted its holdings in shares of Avidbank by 314.7% during the first quarter. Bank of America Corp DE now owns 7,551 shares of the company’s stock worth $215,000 after buying an additional 5,730 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Avidbank in the second quarter valued at about $298,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

Avidbank Price Performance

Shares of NASDAQ AVBH opened at $31.20 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $32.04 and its two-hundred day moving average price is $30.87. The company has a market cap of $342.58 million, a PE ratio of -16.25 and a beta of 0.33. Avidbank has a twelve month low of $24.02 and a twelve month high of $34.17.

Avidbank (NASDAQ:AVBH) last issued its earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.07). The business had revenue of $29.73 million for the quarter, compared to the consensus estimate of $28.61 million. Avidbank had a positive return on equity of 10.85% and a negative net margin of 8.69%. On average, analysts predict that Avidbank will post 3.39 EPS for the current year.

Avidbank Company Profile

Avidbank is a commercial bank headquartered in San Jose, California, and the principal banking subsidiary of Avidbank Holdings, Inc The bank focuses on serving businesses, entrepreneurs, professionals and their owners through relationship-based banking and customized financial solutions.

Avidbank provides commercial lending, commercial real estate financing, asset-based lending, venture and technology banking solutions, and other business credit products. Its deposit offerings include business checking and savings accounts, money market accounts and certificates of deposit.