Avidbank (NASDAQ:AVBH) Now Covered by Piper Sandler

Key Points

• Piper Sandler has reaffirmed Avidbank's (NASDAQ:AVBH) "overweight" rating, setting a target price of $31.00, which suggests a potential upside of 23.51% from its current price.
• Avidbank's shares opened at $25.10 and have shown fluctuation with a 12 month low of $19.32 and a high of $26.59.
• The company reported earnings of $0.75 EPS for the last quarter, matching consensus estimates, with revenues of $21.83 million.

Equities researchers at Piper Sandler initiated coverage on shares of Avidbank (NASDAQ:AVBH - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $31.00 price target on the stock. Piper Sandler's price target would suggest a potential upside of 23.06% from the company's current price.

Avidbank Price Performance

AVBH stock traded up $0.09 during midday trading on Tuesday, reaching $25.19. 643 shares of the company's stock traded hands, compared to its average volume of 13,979. Avidbank has a 1-year low of $19.32 and a 1-year high of $26.59. The stock has a market capitalization of $265.00 million, a price-to-earnings ratio of 8.21 and a beta of 0.59.

Avidbank (NASDAQ:AVBH - Get Free Report) last released its quarterly earnings results on Monday, August 25th. The company reported $0.75 earnings per share for the quarter, meeting analysts' consensus estimates of $0.75. The business had revenue of $21.83 million for the quarter.

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.