Avidbank swings to Q4 net income
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Avidbank reported a Q4 net income recovery from a previous loss, with a net interest margin of 4.13%. Non-performing assets rose due to loan downgrades, but the bank remains confident in its asset quality and loan portfolio. Q4 net interest income increased from higher loan balances and lower funding costs. Analysts rate the stock as a "strong buy" with a 12-month price target of $31.75, reflecting a 16% upside from its recent closing price of $27.36.
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