Central Valley Community Bancorp (CVCY) Lowered to “Hold” at Zacks Investment Research
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, Keefe, Bruyette & Woods cut shares of Central Valley Community Bancorp from an outperform rating to a market perform rating and increased their price target for the stock from $14.00 to $16.00 in a research note on Friday, July 22nd.
Central Valley Community Bancorp (NASDAQ:CVCY) opened at 15.74 on Tuesday. The company’s 50-day moving average is $15.38 and its 200-day moving average is $13.64. Central Valley Community Bancorp has a 52-week low of $9.45 and a 52-week high of $16.42. The firm has a market capitalization of $174.34 million, a price-to-earnings ratio of 11.58 and a beta of 0.20.
Central Valley Community Bancorp (NASDAQ:CVCY) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Central Valley Community Bancorp had a net margin of 28.26% and a return on equity of 10.28%. Equities analysts predict that Central Valley Community Bancorp will post $1.32 earnings per share for the current year.
In other news, Director Joseph B. Weirick sold 2,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $15.21, for a total value of $30,420.00. Following the completion of the transaction, the director now owns 42,765 shares in the company, valued at approximately $650,455.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.57% of the company’s stock.
Several institutional investors have recently made changes to their positions in CVCY. O Shaughnessy Asset Management LLC increased its position in shares of Central Valley Community Bancorp by 1,736.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 8,228 shares of the financial services provider’s stock worth $115,000 after buying an additional 7,780 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Central Valley Community Bancorp during the second quarter worth about $141,000. Acrospire Investment Management LLC bought a new position in shares of Central Valley Community Bancorp during the second quarter worth about $167,000. LSV Asset Management bought a new position in shares of Central Valley Community Bancorp during the second quarter worth about $176,000. Finally, Teachers Advisors Inc. bought a new position in shares of Central Valley Community Bancorp during the second quarter worth about $189,000. Institutional investors and hedge funds own 39.49% of the company’s stock.
Central Valley Community Bancorp Company Profile
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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