Janney Montgomery Scott Upgrades Avidbank (OTCMKTS:AVBH) to Buy

Janney Montgomery Scott upgraded shares of Avidbank (OTCMKTS:AVBH) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm currently has $26.00 price target on the stock.

Separately, Stephens decreased their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd.

Avidbank Trading Down 0.2 %

Shares of OTCMKTS:AVBH opened at $21.94 on Tuesday. The company has a market capitalization of $172.69 million, a PE ratio of 11.19 and a beta of 0.68. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00. The business’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $19.31.

Avidbank (OTCMKTS:AVBH) last posted its earnings results on Monday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.09. The company had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million. Research analysts predict that Avidbank will post 2.71 EPS for the current 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.