Avidbank (OTCMKTS:AVBH) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

by · The Markets Daily

Avidbank (OTCMKTS:AVBH – Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09, Zacks reports. The firm had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million.

Avidbank Price Performance

Shares of OTCMKTS:AVBH traded up $0.13 during trading on Thursday, reaching $20.25. 5,910 shares of the company’s stock traded hands, compared to its average volume of 4,748. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00. The company has a 50 day moving average of $19.56 and a 200-day moving average of $19.10. The stock has a market capitalization of $158.36 million, a P/E ratio of 9.74 and a beta of 0.69.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Janney Montgomery Scott assumed coverage on shares of Avidbank in a report on Friday, July 12th. They issued a “neutral” rating and a $21.00 price objective on the stock. Stephens cut their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd.

View Our Latest Stock Report on AVBH

About Avidbank

(Get Free Report)

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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