$18.27 Million in Sales Expected for Central Valley Community Bancorp (NASDAQ:CVCY) This Quarter

Wall Street analysts expect that Central Valley Community Bancorp (NASDAQ:CVCY) will report sales of $18.27 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Central Valley Community Bancorp’s earnings. The highest sales estimate is $18.60 million and the lowest is $17.90 million. Central Valley Community Bancorp posted sales of $18.37 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The company is scheduled to announce its next earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full year sales of $74.20 million for the current year, with estimates ranging from $71.80 million to $76.10 million. For the next year, analysts forecast that the firm will post sales of $74.50 million, with estimates ranging from $72.60 million to $75.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $20.54 million during the quarter, compared to analysts’ expectations of $18.33 million. Central Valley Community Bancorp had a return on equity of 10.01% and a net margin of 28.57%.

A number of research firms have commented on CVCY. Zacks Investment Research upgraded Central Valley Community Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research note on Monday, July 22nd. ValuEngine upgraded Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. DA Davidson reiterated a “neutral” rating on shares of Central Valley Community Bancorp in a research note on Monday, April 22nd. Finally, BidaskClub upgraded Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.00.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Central Valley Community Bancorp by 3.3% during the 4th quarter. BlackRock Inc. now owns 586,274 shares of the financial services provider’s stock valued at $11,063,000 after purchasing an additional 18,494 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Central Valley Community Bancorp by 8.7% during the 4th quarter. Bank of New York Mellon Corp now owns 83,755 shares of the financial services provider’s stock valued at $1,580,000 after purchasing an additional 6,669 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Central Valley Community Bancorp by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 332,983 shares of the financial services provider’s stock valued at $6,283,000 after purchasing an additional 29,659 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Central Valley Community Bancorp by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 115,407 shares of the financial services provider’s stock valued at $2,177,000 after purchasing an additional 6,577 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Central Valley Community Bancorp by 56.5% during the 4th quarter. Bank of America Corp DE now owns 8,529 shares of the financial services provider’s stock worth $161,000 after buying an additional 3,079 shares during the period. Institutional investors own 46.83% of the company’s stock.

Shares of NASDAQ CVCY traded down $0.43 during mid-day trading on Wednesday, reaching $19.88. 4,741 shares of the company were exchanged, compared to its average volume of 18,946. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $271.64 million, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.60 and a beta of 0.32. Central Valley Community Bancorp has a 1 year low of $15.66 and a 1 year high of $21.89. The business has a 50-day simple moving average of $20.67.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, August 1st. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 28.57%.

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.

See Also: Capital Gains Distribution

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

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