Avidbank (OTC:AVBH) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Avidbank (OTC:AVBH) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat reports. Janney Montgomery Scott currently has $26.00 target price on the stock.

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

Avidbank Stock Performance

OTC AVBH opened at $21.94 on Tuesday. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00. The company’s 50-day moving average is $20.01. The firm has a market cap of $172.67 million, a P/E ratio of 11.22 and a beta of 0.68.

Avidbank (OTC:AVBH) last issued its earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.12. The firm had revenue of $38.43 million during the quarter, compared to analysts’ expectations of $20.18 million. On average, analysts expect that Avidbank will post 2.55 EPS for the current fiscal 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.