Central Valley Community Bancorp (CVCY) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other analysts also recently issued reports on CVCY. ValuEngine downgraded Central Valley Community Bancorp from a buy rating to a hold rating in a research note on Friday, February 2nd. Zacks Investment Research cut Central Valley Community Bancorp from a hold rating to a sell rating in a report on Friday, April 20th. Finally, Sandler O’Neill set a $24.00 target price on Central Valley Community Bancorp and gave the stock a buy rating in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Central Valley Community Bancorp currently has a consensus rating of Hold and an average target price of $23.67.

Central Valley Community Bancorp traded up $0.14, reaching $21.38, during midday trading on Monday, Marketbeat.com reports. The company’s stock had a trading volume of 108 shares, compared to its average volume of 26,632. Central Valley Community Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $20.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $286.58 million, a PE ratio of 14.67, a P/E/G ratio of 1.78 and a beta of 0.09.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.07. Central Valley Community Bancorp had a return on equity of 9.59% and a net margin of 21.26%. The company had revenue of $18.20 million for the quarter, compared to analysts’ expectations of $18.20 million. research analysts expect that Central Valley Community Bancorp will post 1.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Friday, May 4th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 3rd. Central Valley Community Bancorp’s dividend payout ratio (DPR) is 20.29%.

In related news, Director Daniel N. Cunningham sold 4,500 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $20.08, for a total transaction of $90,360.00. Following the completion of the transaction, the director now owns 132,156 shares in the company, valued at approximately $2,653,692.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel N. Cunningham sold 5,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $20.09, for a total value of $100,450.00. Following the transaction, the director now owns 132,156 shares of the company’s stock, valued at approximately $2,655,014.04. The disclosure for this sale can be found here. 21.57% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CVCY. Strs Ohio raised its position in shares of Central Valley Community Bancorp by 232.1% in the 4th quarter. Strs Ohio now owns 9,300 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 6,500 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Central Valley Community Bancorp during the fourth quarter worth about $206,000. Alliancebernstein L.P. acquired a new stake in Central Valley Community Bancorp during the fourth quarter worth about $225,000. Stone Ridge Asset Management LLC acquired a new stake in Central Valley Community Bancorp during the fourth quarter worth about $234,000. Finally, Matarin Capital Management LLC acquired a new stake in Central Valley Community Bancorp during the first quarter worth about $252,000. 44.12% of the stock is owned by institutional investors and hedge funds.

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 individuals, and small and middle market businesses. The company accepts deposit products, such as interest-bearing deposits comprising savings, NOW, and money market accounts, as well as time certificates of deposit; and non-interest bearing demand deposits.

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