DA Davidson Weighs in on Avidbank Holdings, Inc.’s FY2024 Earnings (OTCMKTS:AVBH)

Avidbank Holdings, Inc. (OTCMKTS:AVBH) – Investment analysts at DA Davidson cut their FY2024 EPS estimates for Avidbank in a report issued on Monday, April 22nd. DA Davidson analyst G. Tenner now forecasts that the company will post earnings per share of $2.82 for the year, down from their prior estimate of $3.03. The consensus estimate for Avidbank’s current full-year earnings is $2.69 per share. DA Davidson also issued estimates for Avidbank’s Q2 2024 earnings at $0.67 EPS, FY2024 earnings at $2.82 EPS, FY2025 earnings at $3.03 EPS and FY2025 earnings at $3.03 EPS.

Avidbank (OTCMKTS:AVBH) last issued its earnings results on Monday, January 22nd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $29.26 million for the quarter, compared to analysts’ expectations of $18.92 million.

Separately, Piper Sandler cut their price objective on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, April 19th.

Avidbank Stock Down 0.2 %

Shares of AVBH stock opened at $19.22 on Wednesday. The firm has a market cap of $149.92 million, a price-to-earnings ratio of 9.24 and a beta of 0.66. The company’s 50 day moving average is $18.97 and its 200 day moving average is $20.05. Avidbank has a 52-week low of $13.25 and a 52-week high of $22.00.

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.