Avidbank (NASDAQ:AVBH – Get Free Report) released its quarterly earnings data on Monday. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07, FiscalAI reports. The firm had revenue of $30.37 million for the quarter, compared to analyst estimates of $29.26 million. Avidbank had a negative net margin of 8.69% and a positive return on equity of 10.85%.
Avidbank Trading Down 0.4%
Shares of AVBH opened at $31.57 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $31.50 and a two-hundred day simple moving average of $30.41. The stock has a market capitalization of $346.64 million, a P/E ratio of 10.67 and a beta of 0.33. Avidbank has a twelve month low of $24.02 and a twelve month high of $34.17.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark upgraded shares of Avidbank to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings lowered shares of Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $35.33.
About Avidbank
Avidbank, the banking subsidiary of Avidbank Holdings, Inc (NASDAQ: AVBH), is a commercial bank headquartered in Silicon Valley. Founded in 2003, the company provides banking services to businesses, entrepreneurs, and professionals, with a particular focus on technology, life sciences, venture capital, private equity, and other innovation-driven industries.
Avidbank offers commercial lending, business checking and savings accounts, treasury management, cash management, and other deposit services.
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