Boothbay Fund Management LLC Invests $3.51 Million in Avidbank Holdings Inc. $AVBH

Boothbay Fund Management LLC purchased a new stake in shares of Avidbank Holdings Inc. (NASDAQ:AVBH) during the third quarter, Holdings Channel reports. The institutional investor purchased 137,525 shares of the company’s stock, valued at approximately $3,507,000.

Several other large investors have also recently bought and sold shares of the business. BetterWealth LLC purchased a new stake in Avidbank in the 3rd quarter worth about $216,000. Ghisallo Capital Management LLC purchased a new position in Avidbank during the 3rd quarter valued at about $255,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Avidbank during the 3rd quarter valued at about $270,000. ELCO Management Co. LLC acquired a new position in shares of Avidbank in the 3rd quarter valued at about $396,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in shares of Avidbank in the 3rd quarter valued at about $510,000. 15.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVBH has been the subject of several research reports. Stephens raised their price target on shares of Avidbank from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. DA Davidson upped their price objective 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, Weiss Ratings reiterated a “buy (b-)” rating on shares of Avidbank in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Avidbank has an average rating of “Buy” and an average target price of $33.00.

Avidbank Stock Down 0.1%

Shares of Avidbank stock opened at $27.45 on Tuesday. The firm has a market cap of $300.58 million, a price-to-earnings ratio of -13.66 and a beta of 0.38. The stock has a 50-day simple moving average of $28.46 and a 200-day simple moving average of $26.79. Avidbank Holdings Inc. has a 52-week low of $19.75 and a 52-week high of $31.61. 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 (NASDAQ:AVBH) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.11). The firm had revenue of $26.78 million during the quarter, compared to analyst estimates 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.