Piper Sandler Forecasts Strong Price Appreciation for Avidbank (OTCMKTS:AVBH) Stock

Avidbank (OTCMKTS:AVBH) had its price target upped by investment analysts at Piper Sandler from $24.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 12.11% from the stock’s current price.

Separately, Janney Montgomery Scott upgraded Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, November 12th.

Avidbank Price Performance

AVBH opened at $22.30 on Wednesday. The company’s 50 day simple moving average is $21.53 and its 200-day simple moving average is $20.38. Avidbank has a one year low of $18.16 and a one year high of $22.49. The stock has a market capitalization of $176.17 million, a P/E ratio of 10.72 and a beta of 0.69.

Avidbank (OTCMKTS:AVBH) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.17. As a group, analysts anticipate that Avidbank will post 2.71 EPS 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.