Avidbank Holdings Expected to Earn Q3 2024 Earnings of $0.69 Per Share (OTC:AVBH)

Avidbank Holdings (OTC:AVBH) – Investment analysts at DA Davidson reduced their Q3 2024 EPS estimates for Avidbank in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the company will post earnings per share of $0.69 for the quarter, down from their prior forecast of $0.70. The consensus estimate for Avidbank’s current full-year earnings is $2.44 per share. DA Davidson also issued estimates for Avidbank’s FY2024 earnings at $2.45 EPS and FY2025 earnings at $2.61 EPS.

Avidbank (OTC:AVBH) last posted its quarterly earnings data 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 firm had revenue of $37.30 million for the quarter, compared to the consensus estimate of $20.56 million.

Several other analysts have also issued reports on AVBH. Janney Montgomery Scott started coverage on Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 target price for the company. 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 note on Tuesday, July 23rd.

Avidbank Price Performance

AVBH opened at $19.50 on Friday. The stock has a market cap of $152.49 million, a PE ratio of 9.38 and a beta of 0.69. The business has a 50-day moving average price of $19.35. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.