Avidbank (OTC:AVBH) Releases Quarterly Earnings Results

Avidbank (OTC:AVBH) posted its quarterly earnings data on Monday. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million.

Avidbank Price Performance

Shares of AVBH stock opened at $20.12 on Thursday. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00. The firm has a market capitalization of $158.34 million, a P/E ratio of 10.53 and a beta of 0.69. The stock’s 50 day moving average is $19.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stephens lowered their price objective on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Janney Montgomery Scott began 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.

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.