Avidbank (OTCMKTS:AVBH) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Avidbank (OTCMKTS:AVBH) issued its quarterly earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09, Zacks reports. The company had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million.

Avidbank Trading Up 0.6 %

Shares of AVBH stock traded up $0.13 on Thursday, hitting $20.25. 5,910 shares of the stock were exchanged, compared to its average volume of 4,748. The firm has a market capitalization of $158.36 million, a P/E ratio of 9.74 and a beta of 0.69. The business has a 50-day moving average of $19.56 and a 200 day moving average of $19.10. Avidbank has a fifty-two week low of $18.16 and a fifty-two week high of $22.00.

Analysts Set New Price Targets

A number of research analysts have issued reports on AVBH shares. Janney Montgomery Scott started coverage on shares of Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 target price on the stock. Stephens cut their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties. The company offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.