Avidbank (OTCMKTS:AVBH) Raised to “Buy” at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Avidbank (OTCMKTS:AVBH) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat.com reports. They currently have $26.00 price target on the stock.

Separately, Stephens decreased their price objective on Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd.

Avidbank Stock Performance

Shares of OTCMKTS:AVBH opened at $21.98 on Tuesday. Avidbank has a 52-week low of $18.16 and a 52-week high of $22.00. The stock has a market capitalization of $173.00 million, a price-to-earnings ratio of 11.21 and a beta of 0.68. The stock’s 50-day simple moving average is $19.96 and its two-hundred day simple moving average is $19.27.

Avidbank (OTCMKTS:AVBH) last announced its earnings results on Monday, October 21st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $38.43 million for the quarter, compared to analysts’ expectations of $20.18 million. As a group, equities analysts forecast that Avidbank will post 2.71 earnings per share for the current fiscal year.

Avidbank Company Profile

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.