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

Avidbank Holdings Inc. (NASDAQ:AVBH) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 117,909 shares, a growth of 65.5% from the March 15th total of 71,248 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 109,226 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stephens boosted their target price on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings downgraded Avidbank from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. DA Davidson raised their target price on Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler dropped their target price on Avidbank from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Avidbank Stock Performance

Shares of AVBH stock opened at $29.54 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08. Avidbank has a 52 week low of $19.75 and a 52 week high of $31.61. The stock has a market capitalization of $323.46 million, a PE ratio of -14.70 and a beta of 0.34. The firm has a 50 day moving average of $28.90 and a two-hundred day moving average of $27.20.

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 analysts’ consensus estimates of $0.76 by ($0.11). The company had revenue of $26.78 million for the quarter, compared to analysts’ expectations 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

Several large investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Avidbank in the 3rd quarter valued at about $26,000. Kestra Advisory Services LLC acquired a new position in shares of Avidbank during the fourth quarter worth about $36,000. Wells Fargo & Company MN purchased a new stake in shares of Avidbank during the fourth quarter worth approximately $86,000. Barclays PLC acquired a new stake in Avidbank in the fourth quarter valued at approximately $123,000. Finally, Citadel Advisors LLC acquired a new stake in Avidbank in the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

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.