DA Davidson Issues Optimistic Estimate for Avidbank Earnings

Avidbank Holdings (OTC:AVBH) – Analysts at DA Davidson increased their FY2024 earnings estimates for shares of Avidbank in a research report issued to clients and investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner now anticipates that the company will earn $2.60 per share for the year, up from their previous forecast of $2.45. The consensus estimate for Avidbank’s current full-year earnings is $2.43 per share. DA Davidson also issued estimates for Avidbank’s FY2025 earnings at $2.64 EPS.

AVBH has been the subject of a number of other research reports. Stephens cut their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Janney Montgomery Scott began coverage on shares of Avidbank in a report on Friday, July 12th. They set a “neutral” rating and a $21.00 price target for the company.

Avidbank Price Performance

AVBH opened at $20.37 on Friday. The business has a 50 day simple moving average of $19.58. Avidbank has a 1-year low of $18.16 and a 1-year high of $22.00. The stock has a market cap of $159.29 million, a price-to-earnings ratio of 9.79 and a beta of 0.69.

Avidbank (OTC:AVBH) last released its earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The business had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million.

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.