Central Valley Community Bancorp (CVCY) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. DA Davidson reaffirmed a neutral rating on shares of Central Valley Community Bancorp in a report on Monday, April 22nd. Raymond James started coverage on Central Valley Community Bancorp in a report on Wednesday, April 10th. They issued an outperform rating and a $22.00 price target for the company. Finally, ValuEngine cut Central Valley Community Bancorp from a hold rating to a sell rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $23.00.

Central Valley Community Bancorp stock traded up $0.48 during trading hours on Thursday, hitting $20.50. The stock had a trading volume of 17,257 shares, compared to its average volume of 13,220. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.02. The stock has a market cap of $280.87 million, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.63 and a beta of 0.26. Central Valley Community Bancorp has a fifty-two week low of $15.66 and a fifty-two week high of $22.34.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $18.81 million during the quarter, compared to analysts’ expectations of $18.27 million. Central Valley Community Bancorp had a return on equity of 9.88% and a net margin of 28.18%. On average, analysts expect that Central Valley Community Bancorp will post 1.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.11 dividend. This is a positive change from Central Valley Community Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, May 2nd. Central Valley Community Bancorp’s dividend payout ratio is currently 25.97%.

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Central Valley Community Bancorp by 6.8% in the 1st quarter. Strs Ohio now owns 14,100 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 900 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Central Valley Community Bancorp by 553.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,412 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 2,043 shares during the period. Brinker Capital Inc. grew its stake in shares of Central Valley Community Bancorp by 11.8% in the 1st quarter. Brinker Capital Inc. now owns 25,018 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 2,647 shares during the period. Bank of America Corp DE grew its stake in shares of Central Valley Community Bancorp by 56.5% in the 4th quarter. Bank of America Corp DE now owns 8,529 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,079 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Central Valley Community Bancorp by 26.1% in the 4th quarter. Acadian Asset Management LLC now owns 17,389 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 3,596 shares during the period. Institutional investors own 46.82% of the company’s stock.

Central Valley Community Bancorp Company Profile

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.

Featured Story: Do investors pay a separate front-end load every time they buy additional shares?

Receive News & Ratings for Central Valley Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Valley Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.