Central Valley Community Bancorp (CVCY) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a buy rating to a hold rating in a research report report published on Friday.

A number of other analysts have also recently issued reports on CVCY. Zacks Investment Research raised shares of Central Valley Community Bancorp from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Friday, October 20th. BidaskClub cut shares of Central Valley Community Bancorp from a hold rating to a sell rating in a research note on Wednesday, January 31st. Finally, Sandler O’Neill set a $25.00 price objective on shares of Central Valley Community Bancorp and gave the stock a buy rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $24.00.

Shares of Central Valley Community Bancorp (NASDAQ:CVCY) opened at $18.75 on Friday. Central Valley Community Bancorp has a twelve month low of $17.62 and a twelve month high of $23.94. The company has a market cap of $263.88, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.70 and a beta of 0.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.03.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. Central Valley Community Bancorp had a net margin of 20.56% and a return on equity of 9.97%. The business had revenue of $17.51 million during the quarter, compared to analysts’ expectations of $17.85 million. equities research analysts predict that Central Valley Community Bancorp will post 1.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This is a boost from Central Valley Community Bancorp’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.49%. Central Valley Community Bancorp’s dividend payout ratio is 21.24%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Central Valley Community Bancorp by 10.4% in the second quarter. Teachers Advisors LLC now owns 16,267 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 1,533 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Central Valley Community Bancorp by 3.9% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 51,063 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 1,900 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Central Valley Community Bancorp by 8.6% in the second quarter. TIAA CREF Investment Management LLC now owns 25,925 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 2,045 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Central Valley Community Bancorp by 8.5% in the second quarter. Nationwide Fund Advisors now owns 26,739 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 2,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Central Valley Community Bancorp by 37.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,140 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 2,770 shares in the last quarter. 40.78% of the stock is owned by hedge funds and other institutional investors.

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Central Valley Community Bancorp Company Profile

Central Valley Community Bancorp is a bank holding company, which operates through its subsidiary, Central Valley Community Bank (the Bank). The Company’s principal business is to provide, through its banking subsidiary, financial services in its primary market area in California. It serves over seven contiguous counties in California’s central valley, including Fresno County, Madera County, Merced County, Sacramento County, San Joaquin County, Stanislaus County, and Tulare County, and surrounding areas through the Bank.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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