Avidbank Holdings Inc. (NASDAQ:AVBH) Stock Now Rated “Buy” by Wall Street Brokerages

Shares of Avidbank Holdings Inc. (NASDAQ:AVBH) have earned an average rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $35.33.

AVBH has been the subject of several recent analyst reports. Weiss Ratings cut Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 25th. Benchmark upgraded Avidbank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Wall Street Zen lowered Avidbank from a “buy” rating to a “hold” rating in a report on Sunday, September 27th.

Institutional Investors Weigh In On Avidbank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new position in Avidbank in the 2nd quarter worth approximately $30,000. Public Employees Retirement System of Ohio bought a new position in shares of Avidbank in the 2nd quarter worth $58,000. Bank of New York Mellon Corp bought a new position in shares of Avidbank in the 1st quarter worth $207,000. Bank of America Corp DE raised its position in shares of Avidbank by 314.7% during the 1st quarter. Bank of America Corp DE now owns 7,551 shares of the company’s stock valued at $215,000 after buying an additional 5,730 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Avidbank during the 2nd quarter valued at $298,000. 15.87% of the stock is owned by hedge funds and other institutional investors.

Avidbank Stock Down 0.5%

AVBH opened at $30.78 on Tuesday. The firm has a market capitalization of $337.96 million, a P/E ratio of -16.03 and a beta of 0.33. Avidbank has a one year low of $24.02 and a one year high of $34.17. The company has a fifty day moving average price of $31.60 and a 200-day moving average price of $31.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03.

Avidbank (NASDAQ:AVBH) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.07). The business had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $28.61 million. Avidbank had a positive return on equity of 10.85% and a negative net margin of 8.69%. Equities research analysts expect that Avidbank will post 3.40 earnings per share for the current fiscal year.

About Avidbank

Avidbank Holdings, Inc is the bank holding company for Avidbank, a commercial bank focused on serving businesses, entrepreneurs, and professionals. The bank provides commercial lending and deposit services tailored to companies in technology, life sciences, venture capital, private equity, and other specialized industries.

Avidbank’s products and services include commercial loans, lines of credit, venture debt, commercial real estate financing, treasury management, and business deposit accounts.