Avidbank (NASDAQ:AVBH) Announces Earnings Results

Avidbank (NASDAQ:AVBH) posted its earnings results on Monday. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07, FiscalAI reports. The firm had revenue of $30.37 million for the quarter, compared to analysts’ expectations of $29.26 million.

Avidbank Stock Performance

Shares of AVBH opened at $33.22 on Wednesday. The company has a market capitalization of $364.89 million, a price-to-earnings ratio of 10.57 and a beta of 0.33. Avidbank has a 1 year low of $24.02 and a 1 year high of $34.17. The company’s 50 day simple moving average is $31.48 and its 200 day simple moving average is $30.47.

Analyst Ratings Changes

AVBH has been the topic of a number of recent research reports. Benchmark raised Avidbank to a “strong-buy” rating in a research note on Wednesday, September 23rd. Wall Street Zen raised shares of Avidbank from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings cut Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $35.33.

About Avidbank

Avidbank, the banking subsidiary of Avidbank Holdings, Inc (NASDAQ: AVBH), is a commercial bank headquartered in Silicon Valley. Founded in 2003, the company provides banking services to businesses, entrepreneurs, and professionals, with a particular focus on technology, life sciences, venture capital, private equity, and other innovation-driven industries.

Avidbank offers commercial lending, business checking and savings accounts, treasury management, cash management, and other deposit services.