Avidbank (OTCMKTS:AVBH) Given New $23.00 Price Target at Stephens

Avidbank (OTCMKTS:AVBH) had its target price cut by Stephens from $24.00 to $23.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also commented on the stock. Janney Montgomery Scott started coverage on shares of Avidbank in a report on Friday, July 12th. They issued a neutral rating and a $21.00 price objective for the company. Piper Sandler lowered their target price on Avidbank from $24.00 to $23.00 and set an overweight rating for the company in a research note on Friday, April 19th.

Avidbank Stock Up 1.3 %

Shares of AVBH stock opened at $18.90 on Tuesday. The firm has a market capitalization of $147.80 million, a price-to-earnings ratio of 9.09 and a beta of 0.69. The stock has a fifty day moving average of $18.76 and a 200 day moving average of $19.05. Avidbank has a 52 week low of $18.25 and a 52 week high of $22.00.

Avidbank (OTCMKTS:AVBH) last posted its earnings results on Monday, July 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $37.30 million for the quarter, compared to analysts’ expectations of $20.56 million. Equities research analysts anticipate that Avidbank will post 2.71 earnings per share for the current year.

About Avidbank

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