Avidbank (OTCMKTS:AVBH) Stock Rating Upgraded by Janney Montgomery Scott

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

Separately, 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.

Avidbank Stock Performance

Shares of Avidbank stock opened at $21.94 on Tuesday. Avidbank has a 1 year low of $18.16 and a 1 year high of $22.00. The company’s fifty day simple moving average is $20.10 and its 200-day simple moving average is $19.32. The company has a market cap of $172.69 million, a price-to-earnings ratio of 11.19 and a beta of 0.68.

Avidbank (OTCMKTS:AVBH) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. The company had revenue of $38.43 million for the quarter, compared to the consensus estimate of $20.18 million. As a group, research analysts forecast that Avidbank will post 2.71 earnings per share 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.