Short Interest in Avidbank Holdings Inc. (NASDAQ:AVBH) Decreases By 18.5%

Avidbank Holdings Inc. (NASDAQ:AVBH) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 96,082 shares, a decrease of 18.5% from the March 31st total of 117,909 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 59,287 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On Avidbank

A number of large investors have recently added to or reduced their stakes in the stock. Fourthstone LLC grew its position in Avidbank by 4.7% during the fourth quarter. Fourthstone LLC now owns 1,091,019 shares of the company’s stock worth $28,977,000 after buying an additional 48,850 shares in the last quarter. Patriot Financial Partners GP II L.P. acquired a new stake in Avidbank during the third quarter worth approximately $26,798,000. Alliancebernstein L.P. acquired a new stake in Avidbank during the third quarter worth approximately $21,780,000. Endeavour Capital Advisors Inc. acquired a new stake in Avidbank during the third quarter worth approximately $17,796,000. Finally, Banc Funds Co. LLC acquired a new stake in Avidbank during the third quarter worth approximately $17,282,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. DA Davidson upped their price objective on Avidbank from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens upped their price objective on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Piper Sandler decreased their target price on Avidbank from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Avidbank has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Avidbank Stock Performance

Shares of Avidbank stock traded up $0.23 on Friday, hitting $29.87. The stock had a trading volume of 66,223 shares, compared to its average volume of 81,517. Avidbank has a twelve month low of $19.75 and a twelve month high of $31.61. The business’s 50 day moving average is $28.85 and its two-hundred day moving average is $27.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08. The stock has a market cap of $327.08 million, a price-to-earnings ratio of -15.89 and a beta of 0.34.

Avidbank (NASDAQ:AVBH) last posted its earnings results on Monday, April 27th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. Avidbank had a positive return on equity of 11.26% and a negative net margin of 10.20%.The company had revenue of $27.97 million for the quarter, compared to the consensus estimate of $28.10 million. Analysts forecast that Avidbank will post 3.42 EPS for the current year.

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.