First Eagle Investment Management LLC Acquires Shares of 85,000 Avidbank Holdings Inc. $AVBH

First Eagle Investment Management LLC acquired a new stake in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,000 shares of the company’s stock, valued at approximately $2,168,000. First Eagle Investment Management LLC owned about 0.78% of Avidbank at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BetterWealth LLC bought a new position in Avidbank during the 3rd quarter valued at approximately $216,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Avidbank during the third quarter valued at approximately $270,000. ELCO Management Co. LLC bought a new position in shares of Avidbank during the third quarter valued at approximately $396,000. Persistent Asset Partners Ltd bought a new position in shares of Avidbank during the third quarter valued at approximately $768,000. Finally, EJF Capital LLC purchased a new stake in Avidbank in the third quarter worth $2,827,000. 15.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVBH. Weiss Ratings reissued a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. DA Davidson lifted their target price on shares of Avidbank from $31.50 to $33.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Stephens boosted their price target on shares of Avidbank from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $33.00.

Avidbank Price Performance

Shares of NASDAQ AVBH opened at $29.00 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day simple moving average is $28.28. 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 $317.55 million, a PE ratio of -14.43 and a beta of 0.38.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings results 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 analysts’ expectations of $25.70 million. Avidbank had a positive return on equity of 10.42% and a negative net margin of 12.88%.

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.