Central Valley Community Bancorp (NASDAQ:CVCY) Stock Rating Lowered by Zacks Investment Research

Central Valley Community Bancorp (NASDAQ:CVCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Central Valley Community Bank is the sole subsidiary of Central Valley Community Bancorp. The Bank operates full-service offices in Clovis, Fresno, Prather, Kerman and Sacramento, plus Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Investment services are also provided by Investment Centers of America. “

Several other equities research analysts have also recently issued reports on CVCY. BidaskClub cut shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Raymond James started coverage on shares of Central Valley Community Bancorp in a research report on Wednesday, April 10th. They issued an “outperform” rating and a $22.00 price target on the stock. ValuEngine cut shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, DA Davidson restated a “neutral” rating on shares of Central Valley Community Bancorp in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.



Central Valley Community Bancorp stock opened at $19.50 on Tuesday. The company has a market cap of $268.37 million, a PE ratio of 12.76, a P/E/G ratio of 1.56 and a beta of 0.31. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 1 year low of $15.66 and a 1 year high of $22.34.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $18.81 million for the quarter, compared to analysts’ expectations of $18.27 million. Central Valley Community Bancorp had a net margin of 28.18% and a return on equity of 9.73%. As a group, analysts anticipate that Central Valley Community Bancorp will post 1.57 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CVCY. BNP Paribas Arbitrage SA increased its position in Central Valley Community Bancorp by 553.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,412 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 2,043 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Central Valley Community Bancorp in the 4th quarter worth approximately $80,000. MetLife Investment Advisors LLC purchased a new position in shares of Central Valley Community Bancorp during the 4th quarter valued at approximately $110,000. Bank of America Corp DE lifted its position in shares of Central Valley Community Bancorp by 56.5% during the 4th 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. Finally, Strs Ohio lifted its holdings in Central Valley Community Bancorp by 6.8% in the 1st quarter. Strs Ohio now owns 14,100 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 46.94% of the company’s stock.

About Central Valley Community Bancorp

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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