Avidbank Holdings Inc. (NASDAQ:AVBH) Stock Has Average Price Target of $35.33 According to Brokerages

Key Points

• Analysts maintain a bullish outlook: Avidbank has a consensus “Buy” rating from five analysts, with an average 12-month price target of $35.33 versus its recent $31.20 share price.
• Quarterly results were mixed: Avidbank reported $0.76 in EPS, below the $0.83 estimate, but revenue of $29.73 million exceeded expectations of $28.61 million.
• Institutional ownership is growing: Several large investors initiated positions during the second quarter, while institutions and hedge funds collectively own 15.87% of the stock.

Shares of Avidbank Holdings Inc. (NASDAQ:AVBH - Get Free Report) have earned a consensus rating of "Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.33.

Several brokerages have recently weighed in on AVBH. Benchmark raised shares of Avidbank to a "strong-buy" rating in a research note on Wednesday. Weiss Ratings raised shares of Avidbank from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Avidbank from a "hold" rating to a "buy" rating in a report on Saturday, September 19th.

Avidbank Stock Performance

AVBH opened at $31.20 on Friday. The business's 50-day moving average price is $32.04 and its two-hundred day moving average price is $30.87. Avidbank has a 1 year low of $24.02 and a 1 year high of $34.17. The company has a market capitalization of $342.58 million, a price-to-earnings ratio of -16.25 and a beta of 0.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03.

Avidbank (NASDAQ:AVBH - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.07). The firm had revenue of $29.73 million for the quarter, compared to the consensus estimate of $28.61 million. Avidbank had a positive return on equity of 10.85% and a negative net margin of 8.69%. Equities analysts expect that Avidbank will post 3.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Avidbank

A number of large investors have recently modified their holdings of AVBH. Squarepoint Ops LLC acquired a new stake in shares of Avidbank in the second quarter valued at about $439,000. Public Employees Retirement System of Ohio bought a new position in Avidbank in the second quarter valued at approximately $58,000. Bank of America Corp DE bought a new position in Avidbank in the second quarter valued at approximately $435,000. Hsbc Holdings PLC acquired a new position in shares of Avidbank during the 2nd quarter worth approximately $301,000. Finally, Legal & General Group Plc bought a new stake in shares of Avidbank during the 2nd quarter worth approximately $30,000. 15.87% of the stock is currently owned by institutional investors and hedge funds.

Avidbank Company Profile

Avidbank is a commercial bank headquartered in San Jose, California, and the principal banking subsidiary of Avidbank Holdings, Inc The bank focuses on serving businesses, entrepreneurs, professionals and their owners through relationship-based banking and customized financial solutions.

Avidbank provides commercial lending, commercial real estate financing, asset-based lending, venture and technology banking solutions, and other business credit products. Its deposit offerings include business checking and savings accounts, money market accounts and certificates of deposit.

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