Avidbank (OTC:AVBH) Raised to “Buy” at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Avidbank (OTC:AVBH) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have $26.00 target price on the stock.

Separately, Stephens cut their price objective on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd.

Avidbank Trading Down 0.2 %

Shares of OTC:AVBH opened at $21.94 on Tuesday. Avidbank has a one year low of $18.16 and a one year high of $22.00. The firm has a market cap of $172.69 million, a PE ratio of 11.19 and a beta of 0.68. The company’s fifty day moving average is $20.05.

Avidbank (OTC:AVBH) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. The company had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million. As a group, equities analysts anticipate that Avidbank will post 2.55 EPS for the current year.

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.