Central Valley Community Bancorp (NASDAQ:CVCY) Receives $22.00 Consensus Price Target from Brokerages

Shares of Central Valley Community Bancorp (NASDAQ:CVCY) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.00.

Several equities research analysts have recently issued reports on CVCY shares. Sandler O’Neill lowered shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. BidaskClub lowered shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 24th. Finally, Zacks Investment Research lowered shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 14th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in Central Valley Community Bancorp by 72.1% during the 3rd quarter. Allworth Financial LP now owns 1,910 shares of the financial services provider’s stock valued at $39,000 after buying an additional 800 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Central Valley Community Bancorp by 103.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,957 shares of the financial services provider’s stock valued at $40,000 after buying an additional 996 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Central Valley Community Bancorp during the 2nd quarter valued at about $42,000. Strs Ohio lifted its holdings in Central Valley Community Bancorp by 7.8% during the 2nd 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, Charles Schwab Investment Management Inc. lifted its holdings in Central Valley Community Bancorp by 5.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 27,683 shares of the financial services provider’s stock valued at $595,000 after buying an additional 1,428 shares in the last quarter. Institutional investors own 47.31% of the company’s stock.

Central Valley Community Bancorp stock opened at $20.20 on Friday. The firm has a 50-day moving average price of $20.47 and a 200-day moving average price of $20.22. The firm has a market capitalization of $273.25 million, a PE ratio of 13.12 and a beta of 0.38. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 12-month low of $15.66 and a 12-month high of $21.89.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The firm had revenue of $19.93 million during the quarter, compared to analyst estimates of $18.05 million. Central Valley Community Bancorp had a net margin of 27.82% and a return on equity of 9.84%. As a group, sell-side analysts predict that Central Valley Community Bancorp will post 1.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.44 dividend on an annualized basis and a yield of 2.18%. Central Valley Community Bancorp’s payout ratio is 28.57%.

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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