Short Interest in Central Valley Community Bancorp (NASDAQ:CVCY) Increases By 12.3%

Central Valley Community Bancorp (NASDAQ:CVCY) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 68,300 shares, an increase of 12.3% from the July 31st total of 60,800 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 16,700 shares, the short-interest ratio is presently 4.1 days.

CVCY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Monday, July 22nd. BidaskClub lowered shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.00.

Shares of NASDAQ CVCY traded up $0.06 during trading hours on Friday, hitting $21.30. 48,200 shares of the stock were exchanged, compared to its average volume of 18,843. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $282.53 million, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. The company’s fifty day simple moving average is $20.15 and its two-hundred day simple moving average is $20.07. Central Valley Community Bancorp has a 1-year low of $15.66 and a 1-year high of $21.89.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $20.54 million for the quarter, compared to analyst estimates of $18.33 million. Central Valley Community Bancorp had a net margin of 28.57% and a return on equity of 10.01%. As a group, sell-side analysts expect that Central Valley Community Bancorp will post 1.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.44 annualized dividend and a dividend yield of 2.07%. Central Valley Community Bancorp’s dividend payout ratio is 28.57%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Central Valley Community Bancorp during the 2nd quarter worth approximately $42,000. BNP Paribas Arbitrage SA boosted its position in Central Valley Community Bancorp by 553.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,412 shares of the financial services provider’s stock valued at $47,000 after buying an additional 2,043 shares in the last quarter. Bank of America Corp DE boosted its position in Central Valley Community Bancorp by 56.5% in the fourth quarter. Bank of America Corp DE now owns 8,529 shares of the financial services provider’s stock valued at $161,000 after buying an additional 3,079 shares in the last quarter. Strs Ohio boosted its position in Central Valley Community Bancorp by 7.8% in the second quarter. Strs Ohio now owns 15,200 shares of the financial services provider’s stock valued at $326,000 after buying an additional 1,100 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Central Valley Community Bancorp by 29.8% in the first quarter. Acadian Asset Management LLC now owns 22,577 shares of the financial services provider’s stock valued at $441,000 after buying an additional 5,188 shares in the last quarter. Institutional investors and hedge funds own 47.15% 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 small and middle-market businesses and individuals in the central valley area of California. The company accepts deposit products, such as savings, NOW, and money market accounts, as well as time certificates of deposit; and non-interest bearing demand deposits.

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