Avidbank (NASDAQ:AVBH) Given New $35.00 Price Target at Piper Sandler

Avidbank (NASDAQ:AVBH) had its target price reduced by analysts at Piper Sandler from $37.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 21.91% from the stock’s previous close.

AVBH has been the subject of a number of other reports. Weiss Ratings lowered shares of Avidbank from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Stephens boosted their target price on Avidbank from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, DA Davidson upped their target price on Avidbank from $31.50 to $33.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Avidbank Price Performance

Shares of AVBH opened at $28.71 on Thursday. Avidbank has a one year low of $19.75 and a one year high of $31.61. The stock’s fifty day moving average is $28.71 and its 200-day moving average is $26.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $315.24 million, a price-to-earnings ratio of -14.28 and a beta of 0.34.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.11). The company had revenue of $26.78 million during the quarter, compared to analyst estimates of $25.70 million. Avidbank had a positive return on equity of 9.84% and a negative net margin of 12.88%.

Institutional Investors Weigh In On Avidbank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BetterWealth LLC bought a new position in shares of Avidbank during the 3rd quarter valued at about $216,000. Algebris UK Ltd. bought a new stake in shares of Avidbank in the 3rd quarter worth approximately $3,123,000. ELCO Management Co. LLC bought a new stake in shares of Avidbank in the 3rd quarter worth approximately $396,000. Vanguard Group Inc. acquired a new stake in Avidbank during the third quarter valued at approximately $3,401,000. Finally, Endeavour Capital Advisors Inc. acquired a new stake in Avidbank during the third quarter valued at approximately $17,796,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Avidbank Company Profile

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.