Avidbank Holdings Inc. (AVBH) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is positive overall: Five analysts have a consensus “Buy” rating on Avidbank, with three buys, one strong buy and one hold. The average 12-month price target is $35.33 versus the stock’s reported $30.78 opening price.
• Recent earnings were mixed: Avidbank reported quarterly EPS of $0.76, below the $0.83 consensus estimate, though revenue of $29.73 million exceeded expectations of $28.61 million. The company posted a negative net margin but a 10.85% return on equity.
• Institutional interest has increased: BlackRock and Manufacturers Life Insurance each initiated sizable positions, while Bank of America increased its stake by 314.7%. Institutional investors collectively own 15.87% of Avidbank’s shares.

Avidbank Holdings Inc. (NASDAQ:AVBH - Get Free Report) has received a consensus rating of "Buy" from the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.33.

Several research firms have issued reports on AVBH. Benchmark upgraded Avidbank to a "strong-buy" rating in a research report on Wednesday, September 23rd. Weiss Ratings cut Avidbank from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 25th. Finally, Wall Street Zen lowered Avidbank from a "buy" rating to a "hold" rating in a research note on Sunday, September 27th.

Avidbank Stock Performance

Shares of AVBH stock opened at $30.78 on Tuesday. The firm's 50 day moving average is $31.60 and its 200 day moving average is $31.28. The stock has a market capitalization of $337.96 million, a P/E ratio of -16.03 and a beta of 0.33. Avidbank has a 12 month low of $24.02 and a 12 month high of $34.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Avidbank (NASDAQ:AVBH - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.07). Avidbank had a negative net margin of 8.69% and a positive return on equity of 10.85%. The business had revenue of $29.73 million during the quarter, compared to analysts' expectations of $28.61 million. On average, sell-side analysts anticipate that Avidbank will post 3.40 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Avidbank in the second quarter worth about $19,530,000. The Manufacturers Life Insurance Company bought a new position in shares of Avidbank in the second quarter valued at approximately $12,312,000. Hsbc Holdings PLC bought a new position in shares of Avidbank in the first quarter valued at approximately $527,000. Bank of New York Mellon Corp purchased a new position in Avidbank during the second quarter valued at approximately $778,000. Finally, Bank of America Corp DE grew its stake in Avidbank by 314.7% during the first quarter. Bank of America Corp DE now owns 7,551 shares of the company's stock valued at $215,000 after acquiring an additional 5,730 shares in the last quarter. Institutional investors own 15.87% of the company's stock.

Avidbank Company Profile

Avidbank Holdings, Inc is the bank holding company for Avidbank, a commercial bank focused on serving businesses, entrepreneurs, and professionals. The bank provides commercial lending and deposit services tailored to companies in technology, life sciences, venture capital, private equity, and other specialized industries.

Avidbank's products and services include commercial loans, lines of credit, venture debt, commercial real estate financing, treasury management, and business deposit accounts.

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