Avidbank (OTC:AVBH - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million.
Avidbank Stock Performance
Shares of AVBH stock remained flat at $19.73 during trading hours on Tuesday. 33 shares of the company were exchanged, compared to its average volume of 1,056. The firm has a 50-day simple moving average of $19.51. The company has a market cap of $155.28 million, a PE ratio of 10.33 and a beta of 0.69. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00.
Analyst Ratings Changes
AVBH has been the subject of several recent analyst reports. Stephens cut their target price on Avidbank from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, July 23rd. Janney Montgomery Scott started 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.
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Avidbank Company Profile
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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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