Hsbc Holdings PLC Purchases New Holdings in Avidbank Holdings Inc. $AVBH

Hsbc Holdings PLC acquired a new position in Avidbank Holdings Inc. (NASDAQ:AVBH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,395 shares of the company’s stock, valued at approximately $527,000. Hsbc Holdings PLC owned about 0.17% of Avidbank at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AVBH. First Eagle Investment Management LLC boosted its stake in shares of Avidbank by 80.6% in the fourth quarter. First Eagle Investment Management LLC now owns 153,500 shares of the company’s stock worth $4,077,000 after acquiring an additional 68,500 shares during the last quarter. Maltese Capital Management LLC increased its position in shares of Avidbank by 38.6% during the fourth quarter. Maltese Capital Management LLC now owns 305,000 shares of the company’s stock worth $8,101,000 after purchasing an additional 85,000 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Avidbank in the 3rd quarter valued at $667,000. State Street Corp acquired a new position in Avidbank in the 4th quarter valued at $641,000. Finally, Bridgeway Capital Management LLC acquired a new position in Avidbank in the 4th quarter valued at $332,000. 15.87% of the stock is currently owned by hedge funds and other institutional investors.

Avidbank Price Performance

NASDAQ:AVBH opened at $32.61 on Friday. Avidbank Holdings Inc. has a one year low of $21.25 and a one year high of $34.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $357.08 million, a PE ratio of -16.98 and a beta of 0.33. The stock has a 50 day moving average price of $32.00 and a 200 day moving average price of $29.97.

Avidbank (NASDAQ:AVBH) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.07). The company had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $28.61 million. Avidbank had a positive return on equity of 10.99% and a negative net margin of 8.69%. Equities research analysts expect that Avidbank Holdings Inc. will post 3.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVBH shares. Weiss Ratings cut shares of Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Avidbank from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, DA Davidson raised their price target on shares of Avidbank from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

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.