Analysts Set Expectations for Central Valley Community Bancorp’s FY2018 Earnings (CVCY)

Central Valley Community Bancorp (NASDAQ:CVCY) – Analysts at FIG Partners boosted their FY2018 earnings estimates for shares of Central Valley Community Bancorp in a research report issued on Thursday, October 18th. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings per share of $1.56 for the year, up from their prior estimate of $1.50. FIG Partners also issued estimates for Central Valley Community Bancorp’s Q4 2018 earnings at $0.39 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.43 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.43 EPS and FY2020 earnings at $1.71 EPS.

A number of other research firms have also weighed in on CVCY. BidaskClub lowered shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, July 20th.

CVCY opened at $20.94 on Friday. The company has a market capitalization of $275.43 million and a price-to-earnings ratio of 13.88. Central Valley Community Bancorp has a 1-year low of $18.05 and a 1-year high of $22.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.73 and a quick ratio of 0.73.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $18.37 million during the quarter, compared to analyst estimates of $17.91 million. Central Valley Community Bancorp had a net margin of 22.22% and a return on equity of 9.49%.

Several institutional investors and hedge funds have recently bought and sold shares of CVCY. BlackRock Inc. boosted its position in shares of Central Valley Community Bancorp by 20.9% in the second quarter. BlackRock Inc. now owns 558,245 shares of the financial services provider’s stock worth $11,813,000 after purchasing an additional 96,373 shares during the period. Dalton Greiner Hartman Maher & Co. bought a new position in shares of Central Valley Community Bancorp in the second quarter worth approximately $1,383,000. Dimensional Fund Advisors LP boosted its position in shares of Central Valley Community Bancorp by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 247,649 shares of the financial services provider’s stock worth $4,844,000 after purchasing an additional 42,268 shares during the period. Northern Trust Corp boosted its position in shares of Central Valley Community Bancorp by 12.5% in the second quarter. Northern Trust Corp now owns 119,296 shares of the financial services provider’s stock worth $2,525,000 after purchasing an additional 13,232 shares during the period. Finally, Rhumbline Advisers bought a new position in shares of Central Valley Community Bancorp in the second quarter worth approximately $235,000. Institutional investors and hedge funds own 45.38% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be given a $0.09 dividend. This is a positive change from Central Valley Community Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 1st. Central Valley Community Bancorp’s dividend payout ratio is presently 23.19%.

About Central Valley Community Bancorp

Central Valley Community Bancorp operates as the bank holding company for the Central Valley Community Bank that provides various commercial banking services to individuals, and small and middle market businesses. The company accepts deposit products, such as interest-bearing deposits comprising 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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