Avidbank (OTCMKTS:AVBH) Announces Earnings Results

Avidbank (OTCMKTS:AVBH) announced its quarterly earnings data on Monday. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09, Zacks reports. The firm had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million.

Avidbank Price Performance

Shares of OTCMKTS:AVBH traded up $0.13 during trading on Thursday, hitting $20.25. 5,907 shares of the company’s stock were exchanged, compared to its average volume of 4,748. The company has a market cap of $158.36 million, a price-to-earnings ratio of 9.74 and a beta of 0.69. Avidbank has a 52-week low of $18.16 and a 52-week high of $22.00. The business’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $19.10.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVBH. Janney Montgomery Scott initiated coverage on Avidbank in a research report on Friday, July 12th. They issued a “neutral” rating and a $21.00 target price for the company. Stephens lowered their target price on Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research 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.