Avidbank (OTC:AVBH) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

by · The Cerbat Gem

Avidbank (OTC:AVBH – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.65 by $0.12, Yahoo Finance reports. The company had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Stock Up 0.7 %

Avidbank stock traded up $0.13 during trading on Tuesday, reaching $19.73. The company had a trading volume of 609 shares, compared to its average volume of 4,706. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00. The business’s 50 day moving average price is $19.49. The stock has a market capitalization of $154.29 million, a price-to-earnings ratio of 9.49 and a beta of 0.69.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stephens dropped their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Janney Montgomery Scott assumed coverage on shares of Avidbank in a report on Friday, July 12th. They set a “neutral” rating and a $21.00 target price for the company.

View Our Latest Stock Report on Avidbank

About Avidbank

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Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties. The company offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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