Persistent Asset Partners Ltd Invests $768,000 in Avidbank Holdings Inc. $AVBH

Persistent Asset Partners Ltd acquired a new stake in Avidbank Holdings Inc. (NASDAQ:AVBH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 30,130 shares of the company’s stock, valued at approximately $768,000. Persistent Asset Partners Ltd owned about 0.28% of Avidbank at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Endeavour Capital Advisors Inc. acquired a new stake in shares of Avidbank in the third quarter worth about $17,796,000. Vanguard Group Inc. bought a new position in shares of Avidbank in the 3rd quarter valued at approximately $3,401,000. Algebris UK Ltd. bought a new position in shares of Avidbank in the 3rd quarter valued at approximately $3,123,000. ELCO Management Co. LLC acquired a new stake in Avidbank in the 3rd quarter worth approximately $396,000. Finally, BetterWealth LLC bought a new stake in Avidbank during the third quarter worth approximately $216,000. 15.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AVBH shares. DA Davidson lifted their price target on shares of Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Avidbank in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.00.

Avidbank Price Performance

NASDAQ:AVBH opened at $29.52 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.08. Avidbank Holdings Inc. has a one year low of $19.75 and a one year high of $31.22. The firm’s fifty day moving average is $27.89. The firm has a market cap of $323.24 million, a PE ratio of -14.69 and a beta of 0.38.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.11). Avidbank had a positive return on equity of 10.42% and a negative net margin of 12.88%.The company had revenue of $26.78 million for the quarter, compared to the consensus estimate of $25.70 million.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit. The company also provides personal lending products include secured and unsecured lines of credit, home equity lines of credit, remodel and new home construction loans, and term loans; corporate banking comprises working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; and commercial real estate lending, such as permanent loans and bridge financing products.