Avidbank (OTCMKTS:AVBH) Stock Price Down 0.6%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) dropped 0.6% on Tuesday . The company traded as low as $19.50 and last traded at $19.75. Approximately 2,500 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 4,899 shares. The stock had previously closed at $19.86.

Wall Street Analyst Weigh In

AVBH has been the subject of a number of recent analyst reports. Janney Montgomery Scott initiated coverage on Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 price objective on the stock. Stephens reduced 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 Stock Performance

The stock has a market capitalization of $154.45 million, a price-to-earnings ratio of 9.50 and a beta of 0.69. The firm’s fifty day simple moving average is $19.27 and its 200 day simple moving average is $19.01.

Avidbank (OTCMKTS:AVBH) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $37.30 million for the quarter, compared to analyst estimates of $20.56 million. Analysts forecast that Avidbank Holdings, Inc. will post 2.71 earnings per share for the current year.

Avidbank Company Profile

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.