EJF Capital LLC Makes New $2.83 Million Investment in Avidbank Holdings Inc. $AVBH

EJF Capital LLC acquired a new stake in Avidbank Holdings Inc. (NASDAQ:AVBH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 110,855 shares of the company’s stock, valued at approximately $2,827,000. Avidbank comprises 1.6% of EJF Capital LLC’s holdings, making the stock its 24th largest position. EJF Capital LLC owned 1.01% of Avidbank as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Algebris UK Ltd. bought a new position in Avidbank in the 3rd quarter valued at $3,123,000. Endeavour Capital Advisors Inc. purchased a new position in shares of Avidbank in the 3rd quarter worth about $17,796,000. Persistent Asset Partners Ltd bought a new position in Avidbank during the third quarter valued at about $768,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Avidbank during the third quarter worth about $270,000. Finally, ELCO Management Co. LLC bought a new stake in Avidbank in the third quarter worth about $396,000. 15.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. DA Davidson raised their target price on Avidbank from $31.50 to $33.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Stephens upped their price target on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $33.00.

Avidbank Stock Down 3.3%

AVBH stock opened at $28.88 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.08. The stock has a market cap of $316.24 million, a price-to-earnings ratio of -14.37 and a beta of 0.38. Avidbank Holdings Inc. has a twelve month low of $19.75 and a twelve month high of $31.61. The firm’s 50-day moving average is $28.18.

Avidbank (NASDAQ:AVBH) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.11). The firm had revenue of $26.78 million during the quarter, compared to analysts’ expectations of $25.70 million. Avidbank had a positive return on equity of 10.42% and a negative net margin of 12.88%.

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.