Zacks: Analysts Anticipate Central Valley Community Bancorp (NASDAQ:CVCY) Will Post Earnings of $0.34 Per Share

Wall Street brokerages predict that Central Valley Community Bancorp (NASDAQ:CVCY) will announce earnings of $0.34 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Central Valley Community Bancorp’s earnings, with estimates ranging from $0.32 to $0.35. Central Valley Community Bancorp reported earnings per share of $0.38 during the same quarter last year, which would suggest a negative year over year growth rate of 10.5%. The company is expected to announce its next earnings report on Wednesday, January 22nd.

On average, analysts expect that Central Valley Community Bancorp will report full year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.57 to $1.60. For the next financial year, analysts forecast that the firm will post earnings of $1.43 per share, with EPS estimates ranging from $1.38 to $1.46. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. Central Valley Community Bancorp had a net margin of 27.82% and a return on equity of 9.77%. The business had revenue of $19.93 million during the quarter, compared to the consensus estimate of $18.05 million.

Several research firms have weighed in on CVCY. Raymond James downgraded shares of Central Valley Community Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 7th. BidaskClub downgraded shares of Central Valley Community Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Sandler O’Neill downgraded shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.00.

NASDAQ:CVCY traded up $0.01 during mid-day trading on Friday, hitting $20.51. 41,232 shares of the company’s stock traded hands, compared to its average volume of 22,671. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day simple moving average is $21.38 and its 200 day simple moving average is $20.75. Central Valley Community Bancorp has a 1 year low of $18.33 and a 1 year high of $22.15. The company has a market cap of $273.08 million, a PE ratio of 13.32 and a beta of 0.41.

In other news, Director Robert J. Flautt sold 2,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $21.52, for a total transaction of $43,040.00. Following the transaction, the director now directly owns 27,796 shares of the company’s stock, valued at $598,169.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.44% of the company’s stock.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Central Valley Community Bancorp by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 112,399 shares of the financial services provider’s stock valued at $2,288,000 after purchasing an additional 1,342 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Central Valley Community Bancorp by 5.4% in 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 acquiring an additional 1,428 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Central Valley Community Bancorp by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,690 shares of the financial services provider’s stock worth $1,862,000 after buying an additional 1,583 shares during the period. Renaissance Technologies LLC raised its holdings in Central Valley Community Bancorp by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 145,592 shares of the financial services provider’s stock worth $3,126,000 after buying an additional 26,211 shares during the period. Finally, Northern Trust Corp raised its holdings in Central Valley Community Bancorp by 3.5% during the 2nd quarter. Northern Trust Corp now owns 124,738 shares of the financial services provider’s stock worth $2,678,000 after buying an additional 4,236 shares during the period. Institutional investors and hedge funds own 47.61% of the company’s stock.

Central Valley Community Bancorp Company Profile

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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