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

Avidbank (OTCMKTS:AVBH) had its target price trimmed by Stephens from $24.00 to $23.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also weighed in on AVBH. Janney Montgomery Scott began coverage on Avidbank in a report on Friday, July 12th. They issued a neutral rating and a $21.00 price objective for the company. Piper Sandler lowered their price target on Avidbank from $24.00 to $23.00 and set an overweight rating for the company in a report on Friday, April 19th.

Avidbank Trading Up 1.1 %

AVBH opened at $19.11 on Tuesday. Avidbank has a twelve month low of $18.25 and a twelve month high of $22.00. The firm has a market cap of $149.44 million, a price-to-earnings ratio of 9.19 and a beta of 0.69. The company has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $19.05.

Avidbank (OTCMKTS:AVBH) last released its quarterly earnings results on Monday, July 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). The company had revenue of $37.30 million during the quarter, compared to analyst estimates of $20.56 million. On average, analysts forecast that Avidbank will post 2.71 earnings per share for the current fiscal 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.