Avidbank Holdings Inc. (NASDAQ:AVBH) Short Interest Up 29.7% in March

Avidbank Holdings Inc. (NASDAQ:AVBH) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 71,248 shares, an increase of 29.7% from the February 26th total of 54,925 shares. Based on an average daily volume of 96,970 shares, the short-interest ratio is presently 0.7 days. Currently, 0.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Avidbank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Patriot Financial Partners GP II L.P. bought a new position in Avidbank in the third quarter valued at about $26,798,000. Alliancebernstein L.P. acquired a new stake in shares of Avidbank in the 3rd quarter valued at approximately $21,780,000. Endeavour Capital Advisors Inc. bought a new stake in shares of Avidbank during the 3rd quarter valued at approximately $17,796,000. Banc Funds Co. LLC bought a new stake in shares of Avidbank during the 3rd quarter valued at approximately $17,282,000. Finally, Wellington Management Group LLP acquired a new position in Avidbank during the 3rd quarter worth approximately $12,716,000. 15.87% of the stock is currently owned by institutional investors and hedge funds.

Avidbank Stock Performance

AVBH stock opened at $27.90 on Monday. Avidbank has a one year low of $19.75 and a one year high of $31.61. The stock has a market cap of $306.34 million, a price-to-earnings ratio of -13.88 and a beta of 0.38. The company has a fifty day moving average price of $28.62 and a two-hundred day moving average price of $26.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.03 and a quick ratio of 1.03.

Avidbank (NASDAQ:AVBH) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.11). The company had revenue of $26.78 million for the quarter, compared to analyst estimates of $25.70 million. Avidbank had a positive return on equity of 9.84% and a negative net margin of 12.88%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AVBH shares. Weiss Ratings cut shares of Avidbank from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. DA Davidson increased their price target on shares of Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Stephens lifted their price objective on shares of Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.