Avidbank (OTC:AVBH) Releases Earnings Results, Beats Estimates By $0.12 EPS

Avidbank (OTC:AVBH) released its earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Price Performance

OTC AVBH traded up $0.13 during trading hours on Tuesday, reaching $19.73. 609 shares of the company’s stock were exchanged, compared to its average volume of 4,706. Avidbank has a one year low of $18.16 and a one year high of $22.00. The business’s 50-day moving average price is $19.49. The firm has a market capitalization of $154.29 million, a P/E ratio of 9.49 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Janney Montgomery Scott initiated coverage on Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 price objective for the company. Stephens reduced their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd.

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.