BidaskClub Upgrades Central Valley Community Bancorp (NASDAQ:CVCY) to “Hold”

BidaskClub upgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a sell rating to a hold rating in a research report report published on Saturday, February 10th.

Several other brokerages also recently weighed in on CVCY. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Friday, October 20th. Sandler O’Neill set a $25.00 target price on shares of Central Valley Community Bancorp and gave the company a buy rating in a research note on Thursday, January 4th. Finally, ValuEngine downgraded shares of Central Valley Community Bancorp from a buy rating to a hold rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Central Valley Community Bancorp presently has an average rating of Buy and a consensus price target of $24.00.

Central Valley Community Bancorp (CVCY) opened at $19.40 on Friday. The firm has a market cap of $262.53, a price-to-earnings ratio of 17.17, a PEG ratio of 1.70 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.03. Central Valley Community Bancorp has a 52 week low of $17.62 and a 52 week high of $23.94.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. This is an increase from Central Valley Community Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, February 7th. Central Valley Community Bancorp’s dividend payout ratio is 24.78%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Central Valley Community Bancorp by 1.2% during the 4th quarter. BlackRock Inc. now owns 463,314 shares of the financial services provider’s stock valued at $9,350,000 after acquiring an additional 5,680 shares during the last quarter. Vanguard Group Inc. boosted its stake in Central Valley Community Bancorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 393,127 shares of the financial services provider’s stock valued at $8,711,000 after acquiring an additional 14,895 shares during the last quarter. FMR LLC boosted its stake in Central Valley Community Bancorp by 257.1% during the 2nd quarter. FMR LLC now owns 293,623 shares of the financial services provider’s stock valued at $6,507,000 after acquiring an additional 211,396 shares during the last quarter. Kennedy Capital Management Inc. boosted its stake in Central Valley Community Bancorp by 26.1% during the 4th quarter. Kennedy Capital Management Inc. now owns 278,753 shares of the financial services provider’s stock valued at $5,625,000 after acquiring an additional 57,772 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Central Valley Community Bancorp by 25.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 176,583 shares of the financial services provider’s stock valued at $3,938,000 after acquiring an additional 36,138 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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About Central Valley Community Bancorp

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.

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