Central Valley Community Bancorp (NASDAQ:CVCY) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also recently issued reports on CVCY. DA Davidson reaffirmed a neutral rating on shares of Central Valley Community Bancorp in a report on Monday, April 22nd. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. Raymond James decreased their target price on shares of Marathon Petroleum from $90.00 to $85.00 and set a strong-buy rating for the company in a report on Wednesday, April 10th. Finally, ValuEngine cut shares of China Southern Airlines from a hold rating to a sell rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $22.00.

NASDAQ:CVCY opened at $20.59 on Wednesday. Central Valley Community Bancorp has a one year low of $15.66 and a one year high of $22.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50-day simple moving average is $20.20. The company has a market capitalization of $281.22 million, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.64 and a beta of 0.34.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $18.81 million for the quarter, compared to analyst estimates of $18.27 million. Central Valley Community Bancorp had a net margin of 28.18% and a return on equity of 9.73%. As a group, analysts anticipate that Central Valley Community Bancorp will post 1.57 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in shares of Central Valley Community Bancorp by 553.7% during the first 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 last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Central Valley Community Bancorp during the fourth quarter valued at approximately $80,000. MetLife Investment Advisors LLC purchased a new stake in Central Valley Community Bancorp during the fourth quarter valued at approximately $110,000. Bank of America Corp DE increased its holdings in Central Valley Community Bancorp by 56.5% during the fourth quarter. Bank of America Corp DE now owns 8,529 shares of the financial services provider’s stock valued at $161,000 after buying an additional 3,079 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Central Valley Community Bancorp during the fourth quarter valued at approximately $274,000. 46.94% 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 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.

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