Central Valley Community Bancorp (CVCY) Downgraded to “Sell” at BidaskClub

Central Valley Community Bancorp (NASDAQ:CVCY) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, August 8th.

A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Zacks Investment Research raised Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, April 24th. Finally, FIG Partners reaffirmed a “market perform” rating and issued a $24.00 price objective (up from $23.00) on shares of Central Valley Community Bancorp in a research note on Sunday, July 23rd.

Shares of Central Valley Community Bancorp (CVCY) opened at 19.16 on Tuesday. The company has a market capitalization of $233.96 million, a price-to-earnings ratio of 15.48 and a beta of 0.20. Central Valley Community Bancorp has a one year low of $13.75 and a one year high of $23.94. The company’s 50 day moving average is $21.55 and its 200 day moving average is $21.11.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.10. Central Valley Community Bancorp had a return on equity of 8.94% and a net margin of 23.78%. The company had revenue of $17.88 million for the quarter, compared to the consensus estimate of $15.85 million. Equities research analysts predict that Central Valley Community Bancorp will post $1.22 earnings per share for the current year.

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In related news, insider Lydia E. Shaw sold 1,500 shares of the business’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 transaction, the insider now directly owns 18,500 shares of the company’s stock, valued at approximately $369,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.57% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Central Valley Community Bancorp by 99.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,098 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 39,419 shares during the last quarter. AXA purchased a new stake in Central Valley Community Bancorp during the first quarter valued at $215,000. Wellington Management Group LLP purchased a new stake in Central Valley Community Bancorp during the first quarter valued at $12,414,000. LSV Asset Management increased its stake in Central Valley Community Bancorp by 31.7% in the first quarter. LSV Asset Management now owns 16,596 shares of the financial services provider’s stock valued at $340,000 after buying an additional 3,996 shares during the last quarter. Finally, State Street Corp increased its stake in Central Valley Community Bancorp by 22.2% in the fourth quarter. State Street Corp now owns 111,771 shares of the financial services provider’s stock valued at $2,233,000 after buying an additional 20,284 shares during the last quarter. 41.97% of the stock is owned by institutional investors.

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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