Avidbank (OTC:AVBH) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Avidbank (OTC:AVBH) posted its earnings results on Monday. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million for the quarter, compared to analysts’ expectations of $20.18 million.

Avidbank Trading Up 2.0 %

Shares of AVBH traded up $0.39 during mid-day trading on Wednesday, hitting $20.12. The company had a trading volume of 9,607 shares, compared to its average volume of 4,740. Avidbank has a 1-year low of $18.16 and a 1-year high of $22.00. The business has a 50-day moving average of $19.53. The company has a market cap of $158.34 million, a PE ratio of 10.53 and a beta of 0.69.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Janney Montgomery Scott started coverage on Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 price objective for the company. Stephens lowered their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd.

About Avidbank

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.