Avidbank (OTC:AVBH) Issues Earnings Results, Beats Expectations By $0.12 EPS

Avidbank (OTC:AVBH) posted its quarterly earnings data on Monday. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million.

Avidbank Stock Up 0.7 %

AVBH traded up $0.13 during trading on Tuesday, hitting $19.73. The stock had a trading volume of 609 shares, compared to its average volume of 4,706. The stock has a market cap of $154.29 million, a P/E ratio of 9.49 and a beta of 0.69. Avidbank has a twelve month low of $18.16 and a twelve month high of $22.00. The business’s 50 day simple moving average is $19.49.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVBH. Janney Montgomery Scott began 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 reduced 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.