Avidbank Holdings price target lowered to $23 from $24 at Piper Sandler

Piper Sandler analyst Andrew Liesch lowered the firm’s price target on Avidbank Holdings to $23 from $24 and keeps an Overweight rating on the shares. Avidbank’s Q1 EPS topped the firm’s estimate by a penny, though the provision was smaller than the firm modeled, fee income was better than expected and NII topped the firm’s forecast due to a larger earning asset base, the analyst tells investors in a research note.