Avidbank (OTCMKTS:AVBH) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Avidbank (OTCMKTS:AVBH) released its quarterly earnings results on Monday. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09, Zacks reports. The business had revenue of $38.43 million during the quarter, compared to the consensus estimate of $20.18 million.

Avidbank Stock Up 0.6 %

Shares of OTCMKTS AVBH traded up $0.13 during mid-day trading on Thursday, hitting $20.25. 5,910 shares of the company traded hands, compared to its average volume of 4,748. Avidbank has a 1 year low of $18.16 and a 1 year high of $22.00. The stock has a market capitalization of $158.36 million, a price-to-earnings ratio of 9.74 and a beta of 0.69. The business has a 50 day moving average of $19.56 and a two-hundred day moving average of $19.10.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVBH shares. Janney Montgomery Scott started coverage on Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 price target for the company. Stephens decreased their price target on Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd.

Avidbank Company Profile

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.