Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Decreases By 66.7%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 100 shares, a decline of 66.7% from the August 31st total of 300 shares. Based on an average daily volume of 900 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVBH. Stephens lowered their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Janney Montgomery Scott initiated coverage on shares of Avidbank in a research report on Friday, July 12th. They set a “neutral” rating and a $21.00 price objective on the stock.

Avidbank Price Performance

Shares of AVBH traded down $0.11 during trading hours on Wednesday, hitting $19.75. The stock had a trading volume of 2,500 shares, compared to its average volume of 4,899. The firm has a market capitalization of $154.45 million, a PE ratio of 9.50 and a beta of 0.69. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00. The stock has a fifty day moving average price of $19.27 and a 200 day moving average price of $19.01.

Avidbank (OTCMKTS:AVBH) last released its quarterly earnings results on Monday, July 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The business had revenue of $37.30 million during the quarter, compared to analyst estimates of $20.56 million. As a group, analysts anticipate that Avidbank will post 2.71 EPS for the current fiscal 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.