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

Avidbank (NASDAQ:AVBH) had its price target lifted by DA Davidson from $31.50 to $33.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

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

Avidbank Stock Performance

Shares of AVBH opened at $30.01 on Monday. Avidbank has a one year low of $19.75 and a one year high of $30.31. The company’s fifty day simple moving average is $26.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $328.61 million, a price-to-earnings ratio of -14.93 and a beta of 0.38.

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

Institutional Trading of Avidbank

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Avidbank in the third quarter valued at $26,000. PMC FIG Opportunities LLC bought a new stake in shares of Avidbank during the 3rd quarter worth $2,390,000. North Reef Capital Management LP acquired a new position in shares of Avidbank in the 3rd quarter worth $3,608,000. Maltese Capital Management LLC acquired a new stake in shares of Avidbank during the third quarter worth $5,610,000. Finally, Focus Partners Wealth acquired a new stake in shares of Avidbank during the third quarter worth $1,106,000. 15.87% of the stock is currently owned by institutional investors.

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.