Avidbank Holdings price target raised to $23 from $19 at Stephens

Stephens analyst Andrew Terrell raised the firm’s price target on Avidbank Holdings to $23 from $19 and keeps an Overweight rating on the shares. Following a “noisy” Q1, the firm was “pleased to see solid deposit growth” in Q2, the analyst tells investors. The firm is “optimistic” that the margin has troughed as the pace of deposit cost acceleration appears to be slowing, while Q2 deposit growth and late quarter borrowing reduction should help to positively influence the margin into Q3, the analyst added.