Hsbc Holdings PLC Makes New $527,000 Investment in Avidbank Holdings Inc. $AVBH

Hsbc Holdings PLC bought a new stake in Avidbank Holdings Inc. (NASDAQ:AVBH) during the 1st quarter, Holdings Channel reports. The firm bought 18,395 shares of the company’s stock, valued at approximately $527,000.

Other hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC increased its holdings in shares of Avidbank by 80.6% during the 4th quarter. First Eagle Investment Management LLC now owns 153,500 shares of the company’s stock worth $4,077,000 after buying an additional 68,500 shares during the last quarter. Maltese Capital Management LLC lifted its holdings in Avidbank by 38.6% in the fourth quarter. Maltese Capital Management LLC now owns 305,000 shares of the company’s stock valued at $8,101,000 after acquiring an additional 85,000 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Avidbank in the third quarter valued at approximately $667,000. State Street Corp purchased a new position in Avidbank in the fourth quarter worth approximately $641,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Avidbank during the fourth quarter worth $332,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.

Avidbank Stock Performance

Shares of AVBH stock opened at $32.61 on Friday. The firm’s 50 day moving average price is $32.00 and its 200-day moving average price is $29.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.03. Avidbank Holdings Inc. has a one year low of $21.25 and a one year high of $34.17. The firm has a market cap of $357.08 million, a P/E ratio of -16.98 and a beta of 0.33.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.07). Avidbank had a positive return on equity of 10.99% and a negative net margin of 8.69%.The company had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $28.61 million. As a group, equities research analysts predict that Avidbank Holdings Inc. will post 3.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVBH. Weiss Ratings downgraded Avidbank from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 17th. Wall Street Zen upgraded Avidbank from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, DA Davidson raised their price objective on Avidbank from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

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.