Avidbank (OTC:AVBH) Upgraded at Janney Montgomery Scott

Avidbank (OTC:AVBH) was upgraded by stock analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat reports. The firm currently has a $26.00 target price on the stock. Janney Montgomery Scott’s price objective indicates a potential upside of 18.24% from the company’s previous close.

Separately, Stephens lowered their price objective on Avidbank from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd.

Avidbank Price Performance

AVBH opened at $21.99 on Tuesday. Avidbank has a fifty-two week low of $18.16 and a fifty-two week high of $22.00. The business’s 50-day moving average price is $19.96. The stock has a market cap of $173.06 million, a P/E ratio of 11.21 and a beta of 0.68.

Avidbank (OTC:AVBH) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The firm had revenue of $38.43 million for the quarter, compared to analysts’ expectations of $20.18 million. Equities analysts forecast that Avidbank will post 2.55 earnings per share for the current 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.