Piper Sandler Comments on Central Valley Community Bancorp’s Q3 2020 Earnings (NASDAQ:CVCY)

Central Valley Community Bancorp (NASDAQ:CVCY) – Stock analysts at Piper Sandler decreased their Q3 2020 earnings per share (EPS) estimates for Central Valley Community Bancorp in a research note issued on Tuesday, July 28th. Piper Sandler analyst M. Clark now expects that the financial services provider will earn $0.30 per share for the quarter, down from their prior forecast of $0.53. Piper Sandler also issued estimates for Central Valley Community Bancorp’s FY2020 earnings at $1.41 EPS and Q2 2021 earnings at $0.22 EPS.

Several other analysts also recently issued reports on CVCY. DA Davidson raised shares of Central Valley Community Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, April 16th. Zacks Investment Research downgraded shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Shares of NASDAQ:CVCY opened at $13.14 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 52-week low of $10.59 and a 52-week high of $22.15. The company has a 50 day moving average of $14.37 and a two-hundred day moving average of $15.37. The company has a market capitalization of $163.99 million, a price-to-earnings ratio of 9.00 and a beta of 0.81.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.13). Central Valley Community Bancorp had a net margin of 23.81% and a return on equity of 8.41%. The business had revenue of $17.62 million during the quarter, compared to analysts’ expectations of $19.37 million.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, August 6th. Central Valley Community Bancorp’s payout ratio is currently 27.67%.

Several hedge funds have recently added to or reduced their stakes in CVCY. Renaissance Technologies LLC grew its position in shares of Central Valley Community Bancorp by 16.5% during the fourth quarter. Renaissance Technologies LLC now owns 184,581 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 26,100 shares in the last quarter. Stifel Financial Corp grew its position in shares of Central Valley Community Bancorp by 4.0% during the fourth quarter. Stifel Financial Corp now owns 34,169 shares of the financial services provider’s stock worth $742,000 after buying an additional 1,326 shares in the last quarter. UBS Group AG grew its position in shares of Central Valley Community Bancorp by 47.8% during the fourth quarter. UBS Group AG now owns 14,849 shares of the financial services provider’s stock worth $322,000 after buying an additional 4,799 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Central Valley Community Bancorp by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 109,906 shares of the financial services provider’s stock worth $2,382,000 after purchasing an additional 24,965 shares during the period. Finally, Marshall Wace LLP acquired a new position in Central Valley Community Bancorp in the fourth quarter worth $330,000. 45.22% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Central Valley Community Bancorp (NASDAQ:CVCY)

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