Codorus Valley Bancorp (NASDAQ:CVLY) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Codorus Valley Bancorp (NASDAQ:CVLY) in a research report sent to investors on Saturday. The brokerage issued a hold rating on the financial services provider’s stock.

Codorus Valley Bancorp Price Performance

NASDAQ CVLY opened at $21.40 on Friday. The business has a 50 day simple moving average of $22.51 and a 200 day simple moving average of $22.13. Codorus Valley Bancorp has a 52-week low of $16.00 and a 52-week high of $25.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $206.30 million, a price-to-earnings ratio of 8.23 and a beta of 0.55.

Codorus Valley Bancorp (NASDAQ:CVLY) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.64 earnings per share for the quarter. The company had revenue of $23.41 million during the quarter. Codorus Valley Bancorp had a net margin of 19.25% and a return on equity of 13.65%. Analysts anticipate that Codorus Valley Bancorp will post 1.75 earnings per share for the current fiscal year.

Codorus Valley Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.68 annualized dividend and a dividend yield of 3.18%. Codorus Valley Bancorp’s dividend payout ratio is currently 26.15%.

Hedge Funds Weigh In On Codorus Valley Bancorp

Several hedge funds have recently made changes to their positions in CVLY. Tower Research Capital LLC TRC grew its stake in shares of Codorus Valley Bancorp by 666.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,915 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,665 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in shares of Codorus Valley Bancorp by 657.8% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,493 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,164 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Codorus Valley Bancorp in the 2nd quarter valued at approximately $63,000. Advisor Group Holdings Inc. boosted its holdings in shares of Codorus Valley Bancorp by 51.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,931 shares of the financial services provider’s stock valued at $64,000 after buying an additional 992 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Codorus Valley Bancorp by 2,162.0% in the 2nd quarter. Wells Fargo & Company MN now owns 3,755 shares of the financial services provider’s stock valued at $74,000 after buying an additional 3,589 shares during the last quarter. 52.05% of the stock is owned by institutional investors.

About Codorus Valley Bancorp

Codorus Valley Bancorp, Inc operates as the bank holding company for the PeoplesBank that provides community banking services in South Central Pennsylvania and Central Maryland. The company accepts demand, money market, time, and savings deposits, as well as certificates of deposit and checking account.