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

StockNews.com initiated coverage on shares of Codorus Valley Bancorp (NASDAQ:CVLY – Get Rating) in a report issued on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, TheStreet raised shares of Codorus Valley Bancorp from a c+ rating to an a- rating in a report on Monday, November 28th.

Codorus Valley Bancorp Stock Performance

CVLY traded down $0.44 on Thursday, reaching $21.25. The company had a trading volume of 12,998 shares, compared to its average volume of 14,638. Codorus Valley Bancorp has a 1 year low of $18.66 and a 1 year high of $25.95. The stock has a market capitalization of $203.79 million, a PE ratio of 10.12 and a beta of 0.56. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $24.27 and a 200-day moving average price of $22.46.

Codorus Valley Bancorp (NASDAQ:CVLY – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.83 earnings per share for the quarter. Codorus Valley Bancorp had a net margin of 20.19% and a return on equity of 11.41%. The firm had revenue of $24.93 million during the quarter.

Codorus Valley Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 24th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Codorus Valley Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, January 23rd. Codorus Valley Bancorp’s dividend payout ratio is presently 30.48%.

Insider Activity

In other news, SVP Matthew A. Clemens sold 1,676 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $25.41, for a total value of $42,587.16. Following the completion of the sale, the senior vice president now directly owns 25,833 shares of the company’s stock, valued at $656,416.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders acquired 2,264 shares of company stock valued at $52,990 and sold 3,027 shares valued at $76,362. Corporate insiders own 4.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in Codorus Valley Bancorp by 3.6% during the fourth quarter. Alliancebernstein L.P. now owns 153,504 shares of the financial services provider’s stock worth $3,653,000 after purchasing an additional 5,404 shares in the last quarter. Millennium Management LLC raised its holdings in Codorus Valley Bancorp by 40.1% during the fourth quarter. Millennium Management LLC now owns 42,416 shares of the financial services provider’s stock worth $1,010,000 after purchasing an additional 12,151 shares in the last quarter. Morgan Stanley raised its holdings in Codorus Valley Bancorp by 89.8% during the fourth quarter. Morgan Stanley now owns 11,371 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 5,380 shares in the last quarter. Man Group plc purchased a new position in Codorus Valley Bancorp during the fourth quarter worth about $217,000. Finally, Boothbay Fund Management LLC raised its holdings in Codorus Valley Bancorp by 0.7% during the fourth quarter. Boothbay Fund Management LLC now owns 191,558 shares of the financial services provider’s stock worth $4,559,000 after purchasing an additional 1,297 shares in the last quarter. 49.14% of the stock is owned by hedge funds and other institutional investors.

About Codorus Valley Bancorp

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Codorus Valley Bancorp, Inc is a bank holding company for Peoples Bank, which engages in the provision of banking and financial services. It offers personal banking, mortgage banking, wealth management and real estate services. The company was founded on October 7, 1986 and is headquartered in York, PA.