Zacks: Analysts Expect Central Valley Community Bancorp (NASDAQ:CVCY) to Post $0.54 EPS

Wall Street analysts expect Central Valley Community Bancorp (NASDAQ:CVCY) to report earnings of $0.54 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Central Valley Community Bancorp’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.60. Central Valley Community Bancorp reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 54.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full-year earnings of $2.26 per share for the current year, with EPS estimates ranging from $2.19 to $2.33. For the next fiscal year, analysts expect that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.85 to $1.98. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.13. The business had revenue of $20.16 million during the quarter, compared to analyst estimates of $19.80 million. Central Valley Community Bancorp had a net margin of 33.49% and a return on equity of 10.87%.

Separately, Zacks Investment Research raised shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Friday, July 2nd.

A number of institutional investors and hedge funds have recently modified their holdings of CVCY. UBS Group AG raised its position in Central Valley Community Bancorp by 118.3% during the first quarter. UBS Group AG now owns 2,951 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,599 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Central Valley Community Bancorp by 57.8% in the first quarter. BNP Paribas Arbitrage SA now owns 4,906 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 1,797 shares during the period. Barclays PLC raised its position in shares of Central Valley Community Bancorp by 159.1% in the first quarter. Barclays PLC now owns 8,837 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 5,426 shares during the period. Royal Bank of Canada raised its position in shares of Central Valley Community Bancorp by 19.6% in the second quarter. Royal Bank of Canada now owns 9,059 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,482 shares during the period. Finally, Liberty Wealth Management LLC raised its position in shares of Central Valley Community Bancorp by 1,915.2% in the second quarter. Liberty Wealth Management LLC now owns 3,708 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 3,524 shares during the period. 46.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CVCY traded up $0.33 during mid-day trading on Thursday, reaching $20.75. The company had a trading volume of 25,233 shares, compared to its average volume of 53,871. The stock has a fifty day moving average of $21.81 and a two-hundred day moving average of $20.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $248.67 million, a price-to-earnings ratio of 9.77 and a beta of 0.87. Central Valley Community Bancorp has a 12-month low of $11.97 and a 12-month high of $23.83.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Friday, August 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 5th. Central Valley Community Bancorp’s payout ratio is presently 29.63%.

About Central Valley Community Bancorp

Central Valley Community Bancorp is a bank holding company, which engages in the provision of business and personal banking, and wealth management services. It operates through the following portfolio: commercial, real estate, and consumer. The commercial portfolio includes commercial and industrial loans, and agricultural production.

Featured Article: How is a Moving Average Calculated?

Get a free copy of the Zacks research report on Central Valley Community Bancorp (CVCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Central Valley Community Bancorp (NASDAQ:CVCY)

Receive News & Ratings for Central Valley Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Valley Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.