Avidbank (NASDAQ:AVBH – Get Free Report) was upgraded by Benchmark to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.
AVBH has been the topic of a number of other research reports. Wall Street Zen raised Avidbank from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Weiss Ratings raised Avidbank from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $35.33.
Read Our Latest Stock Analysis on Avidbank
Avidbank Stock Up 0.3%
Avidbank (NASDAQ:AVBH – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.07). Avidbank had a positive return on equity of 10.85% and a negative net margin of 8.69%.The business had revenue of $29.73 million during the quarter, compared to the consensus estimate of $28.61 million. Equities research analysts forecast that Avidbank will post 3.39 EPS for the current fiscal year.
Institutional Trading of Avidbank
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Avidbank in the 2nd quarter valued at $30,000. Public Employees Retirement System of Ohio bought a new stake in shares of Avidbank in the second quarter valued at about $58,000. Bank of America Corp DE grew its position in Avidbank by 314.7% in the first quarter. Bank of America Corp DE now owns 7,551 shares of the company’s stock valued at $215,000 after purchasing an additional 5,730 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Avidbank during the 1st quarter worth approximately $207,000. Finally, Deutsche Bank AG bought a new position in shares of Avidbank during the 2nd quarter worth approximately $298,000. 15.87% of the stock is currently owned by institutional investors.
Avidbank Company Profile
Avidbank is a commercial bank headquartered in San Jose, California, and the principal banking subsidiary of Avidbank Holdings, Inc The bank focuses on serving businesses, entrepreneurs, professionals and their owners through relationship-based banking and customized financial solutions.
Avidbank provides commercial lending, commercial real estate financing, asset-based lending, venture and technology banking solutions, and other business credit products. Its deposit offerings include business checking and savings accounts, money market accounts and certificates of deposit.
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