Avidbank Holdings Inc. $AVBH Shares Purchased by Maltese Capital Management LLC

Maltese Capital Management LLC increased its stake in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) by 38.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 305,000 shares of the company’s stock after purchasing an additional 85,000 shares during the period. Avidbank makes up 1.4% of Maltese Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Maltese Capital Management LLC’s holdings in Avidbank were worth $8,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP acquired a new stake in Avidbank in the third quarter valued at $26,000. Kestra Advisory Services LLC acquired a new stake in Avidbank in the fourth quarter valued at $36,000. HighTower Advisors LLC lifted its holdings in Avidbank by 25.1% in the fourth quarter. HighTower Advisors LLC now owns 12,444 shares of the company’s stock valued at $331,000 after acquiring an additional 2,500 shares during the period. Wells Fargo & Company MN acquired a new stake in Avidbank in the fourth quarter valued at $86,000. Finally, Barclays PLC acquired a new stake in Avidbank in the fourth quarter valued at $123,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AVBH shares. DA Davidson raised their target price on Avidbank from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Stephens raised their target price on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Piper Sandler reduced their target price on Avidbank from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings raised Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Avidbank Trading Down 1.5%

Shares of AVBH stock opened at $32.01 on Tuesday. Avidbank Holdings Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $32.98. The stock has a market cap of $350.51 million, a P/E ratio of -17.03 and a beta of 0.34. The business has a fifty day simple moving average of $30.15 and a 200-day simple moving average of $28.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08.

Avidbank (NASDAQ:AVBH) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Avidbank had a positive return on equity of 10.88% and a negative net margin of 10.20%.The business had revenue of $27.97 million during the quarter, compared to analysts’ expectations of $28.10 million. On average, analysts forecast that Avidbank Holdings Inc. will post 3.42 earnings per share for the current fiscal year.

Avidbank Profile

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.