Avidbank (NASDAQ:AVBH) Announces Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Avidbank reported quarterly earnings of $0.72 per share, missing analysts' consensus estimates of $0.77 by $0.05.
• The company's stock traded down 0.3% to $25.68, with a market capitalization of approximately $280.94 million.
• Several analysts have issued ratings for Avidbank, with a consensus rating of "Buy" and a target price of $31.25.

Avidbank (NASDAQ:AVBH - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.05), Zacks reports. Avidbank had a return on equity of 11.51% and a net margin of 15.89%.

Avidbank Trading Down 0.3%

Shares of AVBH stock traded down $0.07 during trading hours on Thursday, hitting $25.68. The company's stock had a trading volume of 12,720 shares, compared to its average volume of 19,686. The stock has a fifty day moving average of $25.48. The firm has a market capitalization of $280.94 million, a PE ratio of 8.36 and a beta of 0.58. Avidbank has a twelve month low of $19.75 and a twelve month high of $26.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AVBH. DA Davidson upped their price target on shares of Avidbank from $27.00 to $31.50 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of Avidbank to a "hold" rating in a research report on Saturday, September 20th. Piper Sandler started coverage on shares of Avidbank in a research report on Tuesday, September 2nd. They set an "overweight" rating and a $31.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Avidbank in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $31.25.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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