Algebris UK Ltd. Takes $3.12 Million Position in Avidbank Holdings Inc. $AVBH

Algebris UK Ltd. acquired a new position in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 122,582 shares of the company’s stock, valued at approximately $3,123,000. Algebris UK Ltd. owned approximately 1.12% of Avidbank as of its most recent filing with the Securities and Exchange Commission.

Separately, BetterWealth LLC bought a new stake in shares of Avidbank during the third quarter valued at about $216,000. Institutional investors own 15.87% of the company’s stock.

Avidbank Stock Performance

AVBH stock opened at $27.58 on Monday. The stock has a market capitalization of $302.00 million, a P/E ratio of -15.15 and a beta of 0.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.05 and a quick ratio of 1.05. Avidbank Holdings Inc. has a one year low of $19.75 and a one year high of $27.99. The business’s 50 day simple moving average is $26.45.

Avidbank (NASDAQ:AVBH) last released its earnings results on Thursday, October 23rd. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.05). Avidbank had a negative net margin of 13.50% and a positive return on equity of 10.22%. The business had revenue of $24.19 million for the quarter, compared to the consensus estimate of $23.80 million.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. DA Davidson restated a “buy” rating and issued a $31.50 price objective on shares of Avidbank in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday. Three investment 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 a consensus price target of $31.25.

Avidbank Company Profile

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.