Zacks Investment Research Lowers Central Valley Community Bancorp (CVCY) to Hold

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Zacks Investment Research cut shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a buy rating to a hold rating in a research report report published on Wednesday.

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. “

A number of other research analysts have also recently issued reports on CVCY. ValuEngine upgraded shares of Central Valley Community Bancorp from a hold rating to a buy rating in a research note on Wednesday, March 14th. BidaskClub upgraded shares of Central Valley Community Bancorp from a hold rating to a buy rating in a research note on Thursday, March 15th. Finally, Sandler O’Neill set a $24.00 target price on shares of Central Valley Community Bancorp and gave the company a buy rating in a research note on Thursday, March 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $24.00.

Central Valley Community Bancorp opened at $21.25 on Wednesday, MarketBeat Ratings reports. Central Valley Community Bancorp has a 1 year low of $18.05 and a 1 year high of $23.27. 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 company has a market capitalization of $292.91 million, a PE ratio of 15.40, a PEG ratio of 1.82 and a beta of 0.06.

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

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Central Valley Community Bancorp in the fourth quarter valued at approximately $206,000. Alliancebernstein L.P. acquired a new stake in shares of Central Valley Community Bancorp in the fourth quarter valued at approximately $225,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Central Valley Community Bancorp in the fourth quarter valued at approximately $234,000. Matarin Capital Management LLC acquired a new stake in shares of Central Valley Community Bancorp in the first quarter valued at approximately $252,000. Finally, Hilton Capital Management LLC acquired a new stake in shares of Central Valley Community Bancorp in the fourth quarter valued at approximately $289,000. 44.38% of the stock is owned by institutional investors and hedge funds.

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 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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