Avidbank (NASDAQ:AVBH – Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07, FiscalAI reports. The company had revenue of $30.37 million for the quarter, compared to analysts’ expectations of $29.26 million. Avidbank had a negative net margin of 8.69% and a positive return on equity of 10.85%.
Avidbank Price Performance
NASDAQ:AVBH traded down $0.13 during mid-day trading on Monday, reaching $31.57. The stock had a trading volume of 58,295 shares, compared to its average volume of 90,470. The stock has a market capitalization of $346.64 million, a P/E ratio of -16.44 and a beta of 0.33. The firm has a 50 day moving average price of $31.48 and a two-hundred day moving average price of $31.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. Avidbank has a one year low of $24.02 and a one year high of $34.17.
Wall Street Analyst Weigh In
AVBH has been the subject of several research analyst reports. Benchmark upgraded shares of Avidbank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen raised shares of Avidbank from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings downgraded shares of Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $35.33.
Check Out Our Latest Stock Report on AVBH
About Avidbank
Avidbank, the banking subsidiary of Avidbank Holdings, Inc (NASDAQ: AVBH), is a commercial bank headquartered in Silicon Valley. Founded in 2003, the company provides banking services to businesses, entrepreneurs, and professionals, with a particular focus on technology, life sciences, venture capital, private equity, and other innovation-driven industries.
Avidbank offers commercial lending, business checking and savings accounts, treasury management, cash management, and other deposit services.
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