Short Interest in Avidbank Holdings Inc. (NASDAQ:AVBH) Drops By 18.5%

Avidbank Holdings Inc. (NASDAQ:AVBH - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 96,082 shares, a decrease of 18.5% from the March 31st total of 117,909 shares. Approximately 1.0% of the company's stock are sold short. Based on an average daily trading volume, of 59,287 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

AVBH has been the topic of several recent research reports. Piper Sandler lowered their price objective on Avidbank from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. DA Davidson increased their price objective on Avidbank from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday. Stephens increased their price objective on Avidbank from $30.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Weiss Ratings upgraded Avidbank from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Avidbank from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVBH. BetterWealth LLC bought a new position in shares of Avidbank in the third quarter worth $216,000. Algebris UK Ltd. acquired a new stake in Avidbank in the third quarter valued at about $3,123,000. ELCO Management Co. LLC acquired a new stake in Avidbank in the third quarter valued at about $396,000. Vanguard Group Inc. acquired a new stake in Avidbank in the third quarter valued at about $3,401,000. Finally, Endeavour Capital Advisors Inc. acquired a new stake in Avidbank in the third quarter valued at about $17,796,000. Institutional investors own 15.87% of the company's stock.

Avidbank Stock Down 3.1%

Shares of NASDAQ AVBH opened at $29.45 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.03. Avidbank has a 52 week low of $19.75 and a 52 week high of $31.61. The stock has a market capitalization of $322.48 million, a P/E ratio of -15.66 and a beta of 0.34. The stock's fifty day moving average is $28.85 and its 200 day moving average is $27.53.

Avidbank (NASDAQ:AVBH - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. Avidbank had a positive return on equity of 11.26% and a negative net margin of 10.20%.The company had revenue of $27.97 million for the quarter, compared to analysts' expectations of $28.03 million. Sell-side analysts forecast that Avidbank will post 3.42 earnings per share for the current fiscal year.

Avidbank Company Profile

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. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.

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