Endeavour Capital Advisors Inc. Takes Position in Avidbank Holdings Inc. $AVBH

Endeavour Capital Advisors Inc. acquired a new position in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 697,886 shares of the company’s stock, valued at approximately $17,796,000. Avidbank makes up about 5.4% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 6th largest holding. Endeavour Capital Advisors Inc. owned approximately 6.38% of Avidbank at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVBH. BetterWealth LLC bought a new position in Avidbank during the 3rd quarter worth about $216,000. ELCO Management Co. LLC acquired a new position in shares of Avidbank during the third quarter worth about $396,000. Algebris UK Ltd. acquired a new position in shares of Avidbank during the third quarter worth about $3,123,000. Finally, Vanguard Group Inc. bought a new position in shares of Avidbank during the third quarter worth about $3,401,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVBH shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Avidbank in a report on Wednesday, January 21st. DA Davidson raised their target price on shares of Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $32.00.

Avidbank Stock Performance

Shares of AVBH stock opened at $29.64 on Thursday. Avidbank Holdings Inc. has a 52 week low of $19.75 and a 52 week high of $31.22. The company has a market cap of $324.56 million, a P/E ratio of -14.75 and a beta of 0.38. The business’s 50-day moving average is $27.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.08.

Avidbank (NASDAQ:AVBH) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.11). Avidbank had a negative net margin of 12.88% and a positive return on equity of 10.42%. The firm had revenue of $26.78 million during the quarter, compared to analyst estimates of $25.70 million.

Avidbank 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.