Avidbank (NASDAQ:AVBH) Price Target Raised to $33.00

Avidbank (NASDAQ:AVBH) had its price target upped by DA Davidson from $31.50 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Avidbank in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Avidbank has a consensus rating of “Buy” and an average price target of $32.00.

Avidbank Trading Up 0.3%

Shares of NASDAQ:AVBH opened at $30.50 on Monday. The company has a market capitalization of $333.98 million, a price-to-earnings ratio of -15.17 and a beta of 0.38. The stock has a fifty day moving average of $27.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.08. Avidbank has a 12-month low of $19.75 and a 12-month high of $31.22.

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

Institutional Trading of Avidbank

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in Avidbank during the 3rd quarter valued at approximately $26,000. Citadel Advisors LLC bought a new stake in Avidbank in the third quarter valued at $207,000. BetterWealth LLC acquired a new position in shares of Avidbank during the third quarter valued at $216,000. Ghisallo Capital Management LLC acquired a new position in shares of Avidbank during the third quarter valued at $255,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Avidbank during the third quarter worth about $270,000. 15.87% of the stock is currently owned by institutional investors and hedge funds.

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.