Central Valley Community Bancorp (NASDAQ:CVCY) announced a quarterly dividend on Thursday, April 22nd, Zacks reports. Stockholders of record on Friday, May 7th will be given a dividend of 0.12 per share by the financial services provider on Friday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, May 6th. This is an increase from Central Valley Community Bancorp’s previous quarterly dividend of $0.11.
Central Valley Community Bancorp has raised its dividend by 83.3% over the last three years and has raised its dividend every year for the last 1 years. Central Valley Community Bancorp has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Central Valley Community Bancorp to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 39.0%.
CVCY stock opened at $19.85 on Tuesday. The company’s 50 day simple moving average is $19.23 and its 200-day simple moving average is $16.58. The firm has a market capitalization of $248.62 million, a PE ratio of 14.28 and a beta of 0.82. Central Valley Community Bancorp has a 12 month low of $11.23 and a 12 month high of $21.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71.
Separately, Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, April 28th.
In other Central Valley Community Bancorp news, Director Robert J. Flautt sold 2,000 shares of Central Valley Community Bancorp stock in a transaction on Monday, March 8th. The shares were sold at an average price of $19.67, for a total value of $39,340.00. Following the transaction, the director now owns 27,205 shares in the company, valued at approximately $535,122.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.06% of the stock is owned by company insiders.
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 demand, savings, and time deposits; NOW and money market accounts; certificates of deposit; and non-interest bearing demand deposits.
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