Zacks: Brokerages Anticipate Central Valley Community Bancorp (CVCY) to Post $0.17 EPS

Wall Street analysts expect Central Valley Community Bancorp (NASDAQ:CVCY) to report $0.17 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Central Valley Community Bancorp’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.24. Central Valley Community Bancorp reported earnings of $0.21 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that Central Valley Community Bancorp will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.35. For the next financial year, analysts anticipate that the company will post earnings of $1.32 per share, with EPS estimates ranging from $1.28 to $1.36. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $16.13 million for the quarter, compared to the consensus estimate of $16.60 million. Central Valley Community Bancorp had a net margin of 24.80% and a return on equity of 9.41%.

Several analysts have commented on the stock. 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 on the stock in a report on Friday, October 20th. ValuEngine upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub downgraded shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.

In other news, Director Daniel J. Doyle sold 6,600 shares of Central Valley Community Bancorp stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $19.56, for a total value of $129,096.00. Following the sale, the director now directly owns 79,000 shares in the company, valued at $1,545,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 19.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its holdings in shares of Central Valley Community Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 5,382 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 350 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Central Valley Community Bancorp by 136.6% in the second quarter. Systematic Financial Management LP now owns 8,400 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 4,850 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 purchasing an additional 2,770 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Central Valley Community Bancorp in the second quarter valued at approximately $229,000. Finally, PDT Partners LLC acquired a new stake in shares of Central Valley Community Bancorp in the second quarter valued at approximately $279,000. Institutional investors own 40.75% of the company’s stock.

Shares of Central Valley Community Bancorp (NASDAQ CVCY) traded up $0.48 during mid-day trading on Thursday, reaching $20.44. 23,873 shares of the company’s stock traded hands, compared to its average volume of 40,558. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.03. The firm has a market cap of $270.40, a P/E ratio of 15.08, a P/E/G ratio of 1.97 and a beta of 0.25. Central Valley Community Bancorp has a 52-week low of $16.40 and a 52-week high of $23.94.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were issued a $0.06 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.17%. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 18.18%.

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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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Earnings History and Estimates for Central Valley Community Bancorp (NASDAQ:CVCY)

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