Avidbank Holdings, Inc. (OTCMKTS:AVBH) Sees Large Decrease in Short Interest

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 200 shares, a decline of 60.0% from the October 31st total of 500 shares. Based on an average trading volume of 4,700 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Avidbank Price Performance

Shares of AVBH opened at $22.10 on Friday. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.23. The business’s fifty day moving average price is $20.52 and its 200 day moving average price is $19.52. The stock has a market capitalization of $173.95 million, a PE ratio of 11.28 and a beta of 0.68.

Avidbank (OTCMKTS:AVBH) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $38.43 million for the quarter, compared to analyst estimates of $20.18 million. As a group, research analysts anticipate that Avidbank will post 2.71 earnings per share for the current fiscal 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.