Avidbank (NASDAQ:AVBH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Avidbank (NASDAQ:AVBH) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Avidbank presently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Avidbank Trading Down 0.3%

Avidbank stock opened at $31.30 on Friday. Avidbank has a 52 week low of $24.02 and a 52 week high of $34.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $343.67 million, a price-to-earnings ratio of -16.30 and a beta of 0.33. The company has a 50 day moving average price of $32.10 and a 200 day moving average price of $30.81.

Avidbank (NASDAQ:AVBH) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.07). The firm had revenue of $29.73 million for the quarter, compared to analyst estimates of $28.61 million. Avidbank had a negative net margin of 8.69% and a positive return on equity of 10.85%. Research analysts forecast that Avidbank will post 3.39 EPS for the current year.

Institutional Investors Weigh In On Avidbank

Large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Avidbank during the second quarter valued at approximately $30,000. Public Employees Retirement System of Ohio bought a new stake in Avidbank in the second quarter worth approximately $58,000. Bank of New York Mellon Corp acquired a new position in shares of Avidbank during the 1st quarter worth $207,000. Bank of America Corp DE increased its stake in shares of Avidbank by 314.7% during the 1st quarter. Bank of America Corp DE now owns 7,551 shares of the company’s stock worth $215,000 after purchasing an additional 5,730 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Avidbank during the 2nd quarter valued at $298,000. Institutional investors own 15.87% of the company’s stock.

About Avidbank

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.