110,855 Shares in Avidbank Holdings Inc. $AVBH Purchased by EJF Capital LLC

EJF Capital LLC bought a new position in Avidbank Holdings Inc. (NASDAQ:AVBH) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 110,855 shares of the company’s stock, valued at approximately $2,827,000. Avidbank comprises approximately 1.6% of EJF Capital LLC’s portfolio, making the stock its 24th biggest holding.

A number of other large investors have also recently modified their holdings of the business. BetterWealth LLC purchased a new position in shares of Avidbank during the third quarter worth about $216,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Avidbank in the third quarter valued at approximately $270,000. ELCO Management Co. LLC bought a new stake in Avidbank during the third quarter valued at approximately $396,000. Persistent Asset Partners Ltd purchased a new position in Avidbank in the 3rd quarter worth approximately $768,000. Finally, Algebris UK Ltd. bought a new position in shares of Avidbank in the 3rd quarter worth $3,123,000. Institutional investors own 15.87% of the company’s stock.

Avidbank Price Performance

Shares of AVBH stock opened at $28.88 on Friday. The firm’s 50-day moving average is $28.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.05 and a quick ratio of 1.05. Avidbank Holdings Inc. has a 1-year low of $19.75 and a 1-year high of $31.61. The stock has a market cap of $316.24 million, a PE ratio of -14.37 and a beta of 0.38.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. DA Davidson lifted their price target on Avidbank from $31.50 to $33.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Stephens upped their price objective on Avidbank from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.00.

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.