Avidbank Holdings Inc. (NASDAQ:AVBH) Short Interest Update

Avidbank Holdings Inc. (NASDAQ:AVBH) saw a large decrease in short interest in January. As of January 15th, there was short interest totaling 56,508 shares, a decrease of 13.5% from the December 31st total of 65,300 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 75,352 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 75,352 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BetterWealth LLC purchased a new position in Avidbank in the third quarter valued at about $216,000. Algebris UK Ltd. bought a new stake in shares of Avidbank in the third quarter worth $3,123,000. ELCO Management Co. LLC acquired a new stake in Avidbank in the third quarter valued at $396,000. Vanguard Group Inc. bought a new position in Avidbank during the 3rd quarter valued at $3,401,000. Finally, Endeavour Capital Advisors Inc. bought a new position in Avidbank during the 3rd quarter valued at $17,796,000. Institutional investors and hedge funds own 15.87% of the company’s stock.

Avidbank Stock Performance

AVBH traded up $0.70 on Wednesday, reaching $31.11. 12,329 shares of the company’s stock were exchanged, compared to its average volume of 64,705. Avidbank has a twelve month low of $19.75 and a twelve month high of $31.11. The company’s 50 day simple moving average is $26.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $340.65 million, a P/E ratio of -15.48 and a beta of 0.38.

Avidbank (NASDAQ:AVBH) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.11). Avidbank had a positive return on equity of 10.42% and a negative net margin of 12.88%.The business had revenue of $26.78 million for the quarter, compared to analysts’ expectations of $25.70 million.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVBH shares. Weiss Ratings restated a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. DA Davidson boosted their target price on shares of Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.00.

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. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.