Avidbank Holdings Inc. (NASDAQ:AVBH) Stock Rated “Buy” by Sell-Side Analysts

Avidbank Holdings Inc. (NASDAQ:AVBH) has received a consensus rating of “Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $35.33.

A number of research firms have issued reports on AVBH. Wall Street Zen upgraded shares of Avidbank from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark raised shares of Avidbank to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings cut shares of Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 25th.

Avidbank Trading Down 0.4%

Shares of NASDAQ AVBH opened at $31.57 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Avidbank has a one year low of $24.02 and a one year high of $34.17. The business has a 50-day moving average price of $31.50 and a two-hundred day moving average price of $30.41. The firm has a market capitalization of $346.64 million, a PE ratio of 10.67 and a beta of 0.33.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings results on Monday, October 26th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Avidbank had a negative net margin of 8.69% and a positive return on equity of 10.85%. The business had revenue of $30.37 million during the quarter, compared to analysts’ expectations of $29.26 million. As a group, analysts predict that Avidbank will post 3.40 earnings per share for the current fiscal year.

Institutional Trading of Avidbank

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Avidbank in the second quarter valued at about $19,530,000. The Manufacturers Life Insurance Company acquired a new position in Avidbank in the 2nd quarter worth about $12,312,000. Bank of New York Mellon Corp purchased a new stake in shares of Avidbank during the 2nd quarter worth about $778,000. Hsbc Holdings PLC purchased a new stake in shares of Avidbank during the 1st quarter worth about $527,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Avidbank during the 2nd quarter worth about $439,000. 15.87% of the stock is currently owned by hedge funds and other institutional investors.

Avidbank Company Profile

Avidbank, the banking subsidiary of Avidbank Holdings, Inc (NASDAQ: AVBH), is a commercial bank headquartered in Silicon Valley. Founded in 2003, the company provides banking services to businesses, entrepreneurs, and professionals, with a particular focus on technology, life sciences, venture capital, private equity, and other innovation-driven industries.

Avidbank offers commercial lending, business checking and savings accounts, treasury management, cash management, and other deposit services.