First Eagle Investment Management LLC Invests $2.17 Million in Avidbank Holdings Inc. $AVBH

First Eagle Investment Management LLC bought a new stake in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) during the 3rd quarter, HoldingsChannel reports. The firm bought 85,000 shares of the company’s stock, valued at approximately $2,168,000.

Other institutional investors have also recently made changes to their positions in the company. BetterWealth LLC bought a new stake in shares of Avidbank in the third quarter worth approximately $216,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Avidbank in the third quarter worth approximately $270,000. ELCO Management Co. LLC bought a new stake in Avidbank in the 3rd quarter worth approximately $396,000. Persistent Asset Partners Ltd purchased a new stake in Avidbank during the 3rd quarter valued at $768,000. Finally, EJF Capital LLC purchased a new stake in Avidbank during the 3rd quarter valued at $2,827,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Avidbank Stock Performance

NASDAQ:AVBH opened at $29.00 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average is $28.28. The company has a market capitalization of $317.55 million, a price-to-earnings ratio of -14.43 and a beta of 0.38. Avidbank Holdings Inc. has a 52-week low of $19.75 and a 52-week high of $31.61.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVBH shares. DA Davidson raised 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. Finally, Stephens boosted their price target on Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $33.00.

Avidbank 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.