Avidbank (OTCMKTS:AVBH) Coverage Initiated at Janney Montgomery Scott

Equities researchers at Janney Montgomery Scott assumed coverage on shares of Avidbank (OTCMKTS:AVBH) in a research report issued on Friday, Briefing.com reports. The brokerage set a “neutral” rating and a $21.00 price target on the stock. Janney Montgomery Scott’s target price points to a potential upside of 9.38% from the stock’s current price.

Separately, Piper Sandler dropped their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th.

Avidbank Price Performance

Shares of Avidbank stock opened at $19.20 on Friday. The firm has a market cap of $150.14 million, a PE ratio of 9.23 and a beta of 0.69. Avidbank has a 1 year low of $16.38 and a 1 year high of $22.00. The stock has a fifty day moving average price of $18.71 and a 200-day moving average price of $19.14.

Avidbank (OTCMKTS:AVBH) last announced its quarterly earnings data on Wednesday, April 17th. The company reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The firm had revenue of $35.94 million for the quarter, compared to the consensus estimate of $19.84 million. As a group, equities analysts anticipate that Avidbank will post 2.71 EPS for the current fiscal year.

About Avidbank

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.