Avidbank (OTCMKTS:AVBH) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

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

Avidbank Stock Up 0.6 %

OTCMKTS:AVBH traded up $0.13 during trading hours on Thursday, hitting $20.25. 5,907 shares of the company’s stock traded hands, compared to its average volume of 4,748. Avidbank has a 52 week low of $18.16 and a 52 week high of $22.00. The firm has a market cap of $158.36 million, a P/E ratio of 9.74 and a beta of 0.69. The business’s fifty day simple moving average is $19.56 and its two-hundred day simple moving average is $19.10.

Analyst Ratings Changes

A number of research firms have weighed in on AVBH. Stephens decreased their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Janney Montgomery Scott initiated coverage on shares of Avidbank in a research note on Friday, July 12th. They set a “neutral” rating and a $21.00 target price for the company.

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.