Central Valley Community Bancorp (CVCY) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a hold rating to a sell rating in a report issued on Thursday.

Separately, Zacks Investment Research upgraded Central Valley Community Bancorp from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Friday, July 20th.

Shares of CVCY traded down $0.10 during trading hours on Thursday, hitting $19.99. 9,300 shares of the stock were exchanged, compared to its average volume of 26,108. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 0.73. Central Valley Community Bancorp has a 12-month low of $18.05 and a 12-month high of $22.34. The stock has a market capitalization of $275.43 million, a price-to-earnings ratio of 14.49, a PEG ratio of 1.60 and a beta of 0.11.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Central Valley Community Bancorp had a return on equity of 9.49% and a net margin of 22.22%. The firm had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $17.91 million. On average, analysts predict that Central Valley Community Bancorp will post 1.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a $0.09 dividend. This is a boost from Central Valley Community Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 1st. Central Valley Community Bancorp’s dividend payout ratio is presently 26.09%.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Central Valley Community Bancorp by 1.7% in the 3rd quarter. BlackRock Inc. now owns 567,780 shares of the financial services provider’s stock valued at $12,271,000 after buying an additional 9,535 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Central Valley Community Bancorp by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,190 shares of the financial services provider’s stock valued at $5,802,000 after buying an additional 26,541 shares in the last quarter. Northern Trust Corp grew its holdings in Central Valley Community Bancorp by 12.5% in the 2nd quarter. Northern Trust Corp now owns 119,296 shares of the financial services provider’s stock valued at $2,525,000 after buying an additional 13,232 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Central Valley Community Bancorp by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,747 shares of the financial services provider’s stock valued at $1,624,000 after buying an additional 3,121 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. grew its holdings in Central Valley Community Bancorp by 11.8% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 73,039 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 7,701 shares in the last quarter. Institutional investors own 45.24% of the company’s stock.

Central Valley Community Bancorp Company Profile

Central Valley Community Bancorp operates as the bank holding company for the Central Valley Community Bank that provides various commercial banking services to individuals, and small and middle market businesses. The company accepts deposit products, such as interest-bearing deposits comprising savings, NOW, and money market accounts, as well as time certificates of deposit; and non-interest bearing demand deposits.

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