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 report issued on Tuesday morning, Marketbeat.com reports. The firm currently has $26.00 price objective on the stock.

Separately, Stephens dropped their price target 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.

Avidbank Stock Down 0.2 %

OTC:AVBH opened at $21.94 on Tuesday. The firm has a market cap of $172.67 million, a price-to-earnings ratio of 11.22 and a beta of 0.68. The firm’s 50 day moving average is $20.01. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00.

Avidbank (OTC:AVBH) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.12. The firm had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million. As a group, sell-side analysts forecast that Avidbank will post 2.55 EPS for the current fiscal year.

Avidbank Company Profile

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.