Avidbank (OTC:AVBH) Posts Earnings Results, Beats Expectations By $0.12 EPS

Avidbank (OTC:AVBH) posted its earnings results on Monday. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12, Yahoo Finance reports. The firm had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million.

Avidbank Stock Performance

Avidbank stock traded up $0.39 during midday trading on Wednesday, hitting $20.12. The stock had a trading volume of 9,607 shares, compared to its average volume of 4,740. The business’s fifty day moving average is $19.53. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00. The company has a market capitalization of $158.34 million, a PE ratio of 10.53 and a beta of 0.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AVBH shares. Janney Montgomery Scott began coverage on shares of Avidbank in a research report on Friday, July 12th. They issued a “neutral” rating and a $21.00 price objective for the company. Stephens dropped their price objective on Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd.

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.