Zacks Investment Research upgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a strong sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.
According to Zacks, “Central Valley Community Bank is the sole subsidiary of Central Valley Community Bancorp. The Bank operates full-service offices in Clovis, Fresno, Prather, Kerman and Sacramento, plus Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Investment services are also provided by Investment Centers of America. “
Separately, Janney Montgomery Scott raised Central Valley Community Bancorp from a neutral rating to a buy rating in a report on Tuesday, September 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Central Valley Community Bancorp presently has an average rating of Hold and an average target price of $20.50.
Central Valley Community Bancorp stock opened at $12.35 on Tuesday. The stock’s fifty day moving average price is $12.21 and its two-hundred day moving average price is $13.35. Central Valley Community Bancorp has a one year low of $10.59 and a one year high of $22.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $154.31 million, a PE ratio of 8.46 and a beta of 0.71.
Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.13). Central Valley Community Bancorp had a return on equity of 8.39% and a net margin of 23.81%. The company had revenue of $17.62 million for the quarter, compared to the consensus estimate of $19.37 million. Sell-side analysts expect that Central Valley Community Bancorp will post 1.41 earnings per share for the current fiscal year.
In other news, Director Karen Musson acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $12.05 per share, with a total value of $60,250.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Patrick A. Luis acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average cost of $12.17 per share, for a total transaction of $48,680.00. Following the acquisition, the executive vice president now owns 7,259 shares in the company, valued at $88,342.03. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 18,456 shares of company stock worth $224,450. 16.06% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Central Valley Community Bancorp during the 2nd quarter valued at $37,000. FMR LLC boosted its holdings in shares of Central Valley Community Bancorp by 59.6% during the 2nd quarter. FMR LLC now owns 241,196 shares of the financial services provider’s stock valued at $3,712,000 after acquiring an additional 90,104 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Central Valley Community Bancorp by 131.5% during the 2nd quarter. Bank of America Corp DE now owns 6,319 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 3,589 shares in the last quarter. Stifel Financial Corp lifted its holdings in Central Valley Community Bancorp by 5.1% during the 2nd quarter. Stifel Financial Corp now owns 40,012 shares of the financial services provider’s stock worth $616,000 after buying an additional 1,935 shares during the period. Finally, Bank of Montreal Can acquired a new position in Central Valley Community Bancorp during the 2nd quarter worth about $25,000. 46.70% of the stock is currently owned by institutional investors.
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 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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