Avidbank Holdings Inc. (NASDAQ:AVBH) Short Interest Down 18.5% in April

Avidbank Holdings Inc. (NASDAQ:AVBH) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 96,082 shares, a decrease of 18.5% from the March 31st total of 117,909 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 59,287 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Avidbank from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler dropped their target price on shares of Avidbank from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Stephens increased their target price on shares of Avidbank from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings upgraded shares of Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, DA Davidson increased their target price on shares of Avidbank from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Avidbank presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Institutional Trading of Avidbank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Algebris UK Ltd. purchased a new stake in Avidbank in the third quarter worth about $3,123,000. North Reef Capital Management LP purchased a new stake in Avidbank in the third quarter worth about $3,608,000. EJF Capital LLC purchased a new stake in Avidbank in the third quarter worth about $2,827,000. Boothbay Fund Management LLC bought a new position in shares of Avidbank during the third quarter valued at approximately $3,507,000. Finally, Maltese Capital Management LLC bought a new position in shares of Avidbank during the third quarter valued at approximately $5,610,000. 15.87% of the stock is currently owned by hedge funds and other institutional investors.

Avidbank Stock Performance

Shares of AVBH opened at $29.87 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.03 and a quick ratio of 1.03. Avidbank has a one year low of $19.75 and a one year high of $31.61. The company has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $27.54. The firm has a market capitalization of $327.08 million, a PE ratio of -15.89 and a beta of 0.33.

Avidbank (NASDAQ:AVBH) last issued its quarterly earnings data on Monday, April 27th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Avidbank had a negative net margin of 10.20% and a positive return on equity of 11.26%. The business had revenue of $27.97 million during the quarter, compared to analyst estimates of $28.10 million. On average, analysts anticipate that Avidbank will post 3.42 EPS for the current fiscal year.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.