Piper Sandler Lowers Avidbank (OTCMKTS:AVBH) Price Target to $23.00

Avidbank (OTCMKTS:AVBH) had its target price lowered by analysts at Piper Sandler from $24.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.98% from the stock’s previous close.

Avidbank Price Performance

Shares of OTCMKTS:AVBH traded up $0.58 during trading on Friday, hitting $19.17. The company’s stock had a trading volume of 1,200 shares, compared to its average volume of 380. The firm has a market cap of $149.53 million, a price-to-earnings ratio of 9.22 and a beta of 0.66. The company has a 50-day moving average of $18.95 and a 200-day moving average of $20.16. Avidbank has a 12 month low of $13.25 and a 12 month high of $22.00.

Avidbank (OTCMKTS:AVBH) last released its quarterly earnings results on Monday, January 22nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $29.26 million during the quarter, compared to the consensus estimate of $18.92 million. As a group, research analysts anticipate that Avidbank will post 2.81 earnings per share for the current year.

About Avidbank

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.