Central Valley Community Bancorp (NASDAQ:CVCY) Upgraded at ValuEngine

ValuEngine upgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a hold rating to a buy rating in a report issued on Monday, August 7th.

Other equities research analysts have also recently issued research reports about the stock. FIG Partners restated a market perform rating and issued a $24.00 target price (up previously from $23.00) on shares of Central Valley Community Bancorp in a report on Sunday, July 23rd. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a hold rating to a strong-buy rating and set a $26.00 target price on the stock in a report on Friday, July 21st.

Central Valley Community Bancorp (NASDAQ:CVCY) traded down 1.24% during trading on Monday, reaching $19.16. The company’s stock had a trading volume of 74,718 shares. Central Valley Community Bancorp has a one year low of $13.75 and a one year high of $23.94. The company has a 50-day moving average of $21.55 and a 200 day moving average of $21.11. The firm has a market cap of $233.96 million, a PE ratio of 15.48 and a beta of 0.20.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly 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 net margin of 23.78% and a return on equity of 8.94%. The firm had revenue of $17.88 million for the quarter, compared to analysts’ expectations of $15.85 million. Analysts expect that Central Valley Community Bancorp will post $1.22 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 4th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.24 annualized dividend and a yield of 1.25%. Central Valley Community Bancorp’s payout ratio is presently 19.35%.

In other Central Valley Community Bancorp news, insider Lydia E. Shaw sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.98, for a total value of $29,970.00. Following the transaction, the insider now directly owns 18,500 shares in the company, valued at $369,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.57% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVCY. The Manufacturers Life Insurance Company increased its stake in shares of Central Valley Community Bancorp by 37.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,140 shares of the financial services provider’s stock valued at $225,000 after buying an additional 2,770 shares during the last quarter. State Street Corp increased its stake in shares of Central Valley Community Bancorp by 9.9% in the second quarter. State Street Corp now owns 131,496 shares of the financial services provider’s stock valued at $2,914,000 after buying an additional 11,845 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Central Valley Community Bancorp by 3.9% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 51,063 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 1,900 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Central Valley Community Bancorp during the second quarter valued at approximately $279,000. Finally, OxFORD Asset Management LLP increased its stake in shares of Central Valley Community Bancorp by 41.4% in the second quarter. OxFORD Asset Management LLP now owns 20,539 shares of the financial services provider’s stock valued at $455,000 after buying an additional 6,014 shares during the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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