Avidbank (OTC:AVBH) Posts Earnings Results, Beats Estimates 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 Up 0.7 %

OTC AVBH traded up $0.13 during trading hours on Tuesday, reaching $19.73. 609 shares of the company traded hands, compared to its average volume of 4,706. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00. The stock has a market capitalization of $154.29 million, a PE ratio of 9.49 and a beta of 0.69. The stock has a 50 day simple moving average of $19.49.

Analyst Upgrades and Downgrades

AVBH has been the topic of a number of recent research reports. Janney Montgomery Scott started coverage on shares of Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 target price on the stock. Stephens reduced their price objective on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock 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.