Central Valley Community Bancorp (CVCY) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Central Valley Community Bancorp (NASDAQ:CVCY) issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04, Yahoo Finance reports. The company had revenue of $16.13 million during the quarter, compared to the consensus estimate of $16.60 million. Central Valley Community Bancorp had a net margin of 24.80% and a return on equity of 9.56%.

Central Valley Community Bancorp (NASDAQ:CVCY) opened at 21.25 on Friday. Central Valley Community Bancorp has a one year low of $13.75 and a one year high of $23.94. The firm has a market cap of $259.48 million, a P/E ratio of 17.16 and a beta of 0.23. The firm’s 50-day moving average price is $20.89 and its 200 day moving average price is $21.17.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.24 annualized dividend and a yield of 1.13%. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 18.18%.

In other news, insider Lydia E. Shaw sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.98, for a total transaction of $29,970.00. Following the completion of the sale, the insider now directly owns 18,500 shares in the company, valued at approximately $369,630. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Doyle sold 6,600 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $19.56, for a total value of $129,096.00. Following the sale, the director now owns 79,000 shares of the company’s stock, valued at $1,545,240. The disclosure for this sale can be found here. Corporate insiders own 21.57% of the company’s stock.

An institutional investor recently raised its position in Central Valley Community Bancorp stock. State Street Corp grew its stake in shares of Central Valley Community Bancorp (NASDAQ:CVCY) by 9.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 131,496 shares of the financial services provider’s stock after acquiring an additional 11,845 shares during the quarter. State Street Corp owned about 1.08% of Central Valley Community Bancorp worth $2,914,000 as of its most recent SEC filing. Institutional investors own 39.75% of the company’s stock.

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A number of analysts have recently issued reports on the stock. FIG Partners reissued a “market perform” rating and issued a $24.00 price target (up from $23.00) on shares of Central Valley Community Bancorp in a research report on Sunday, July 23rd. Zacks Investment Research upgraded Central Valley Community Bancorp from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Friday, July 21st. BidaskClub downgraded Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a report on Monday, August 7th.

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.

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

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