Avidbank (OTC:AVBH) Posts Earnings Results, Beats Estimates By $0.12 EPS

Avidbank (OTC:AVBH) posted its earnings results on Monday. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.65 by $0.12, Yahoo Finance reports. The business had revenue of $38.43 million for the quarter, compared to the consensus estimate of $20.18 million.

Avidbank Stock Performance

AVBH stock opened at $19.73 on Wednesday. The firm has a 50 day simple moving average of $19.51. The company has a market capitalization of $155.28 million, a price-to-earnings ratio of 10.33 and a beta of 0.69. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVBH shares. Stephens decreased their price target on 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 started coverage on shares of Avidbank in a report on Friday, July 12th. They issued a “neutral” rating and a $21.00 target price for the company.

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.