Avidbank (OTCMKTS:AVBH) Announces Quarterly Earnings Results

Avidbank (OTCMKTS:AVBH) issued its earnings results on Monday. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.09, Zacks reports. The firm had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Stock Performance

Shares of OTCMKTS AVBH traded up $0.13 during mid-day trading on Thursday, reaching $20.25. 5,910 shares of the company traded hands, compared to its average volume of 4,748. The stock has a market cap of $158.36 million, a PE ratio of 9.74 and a beta of 0.69. The company’s fifty day moving average is $19.56 and its two-hundred day moving average is $19.10. Avidbank has a fifty-two week low of $18.16 and a fifty-two week high of $22.00.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Janney Montgomery Scott assumed coverage on Avidbank in a research report on Friday, July 12th. They issued a “neutral” rating and a $21.00 target price on the stock. Stephens dropped their target price on Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd.

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.