141,496 Shares in Avidbank Holdings Inc. $AVBH Acquired by North Reef Capital Management LP

North Reef Capital Management LP bought a new position in Avidbank Holdings Inc. (NASDAQ:AVBH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 141,496 shares of the company’s stock, valued at approximately $3,608,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of Avidbank in the 3rd quarter valued at $207,000. BetterWealth LLC acquired a new position in shares of Avidbank during the 3rd quarter valued at $216,000. Ghisallo Capital Management LLC bought a new position in Avidbank during the third quarter worth $255,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Avidbank during the third quarter worth $270,000. Finally, ELCO Management Co. LLC acquired a new stake in Avidbank in the third quarter worth $396,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Avidbank Trading Down 0.1%

Shares of AVBH opened at $27.45 on Tuesday. The stock has a market capitalization of $300.58 million, a P/E ratio of -13.66 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 company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $28.46 and a two-hundred day simple moving average of $26.79.

Avidbank (NASDAQ:AVBH) last released its quarterly earnings data 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 negative net margin of 12.88% and a positive return on equity of 10.42%.

Wall Street Analyst Weigh In

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

About Avidbank

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.