Avidbank (OTCMKTS:AVBH) Price Target Cut to $23.00 by Analysts at Piper Sandler

Avidbank (OTCMKTS:AVBH) had its price objective lowered by Piper Sandler from $24.00 to $23.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Avidbank Stock Performance

Shares of OTCMKTS AVBH opened at $19.24 on Friday. The firm has a market cap of $150.07 million, a price-to-earnings ratio of 7.13 and a beta of 0.66. The business’s 50-day simple moving average is $18.95 and its 200-day simple moving average is $20.14. Avidbank has a 52 week low of $13.25 and a 52 week high of $22.00.

Avidbank (OTCMKTS:AVBH) last released its earnings results on Monday, January 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The business had revenue of $29.26 million during the quarter, compared to analyst estimates of $18.92 million. As a group, equities research analysts forecast that Avidbank will post 2.81 earnings per share for the current 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.