Janney Montgomery Scott Initiates Coverage on Avidbank (OTCMKTS:AVBH)

Research analysts at Janney Montgomery Scott began coverage on shares of Avidbank (OTCMKTS:AVBH) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a “neutral” rating and a $21.00 price target on the stock. Janney Montgomery Scott’s price objective suggests a potential upside of 7.69% from the stock’s current price.

Separately, Piper Sandler lowered their target price on Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, April 19th.

Avidbank Trading Up 1.6 %

AVBH opened at $19.50 on Friday. The company has a market cap of $152.49 million, a P/E ratio of 9.38 and a beta of 0.69. The company’s 50 day moving average is $18.72 and its 200-day moving average is $19.13. Avidbank has a 1-year low of $16.85 and a 1-year high of $22.00.

Avidbank (OTCMKTS:AVBH) last announced its quarterly earnings results on Wednesday, April 17th. The company reported $0.69 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.69. The company had revenue of $35.94 million for the quarter, compared to analyst estimates of $19.84 million. On average, equities analysts forecast that Avidbank will post 2.71 EPS for the current year.

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.