Central Valley Community Bancorp (NASDAQ:CVCY) Releases Earnings Results, Meets Expectations

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Central Valley Community Bancorp (NASDAQ:CVCY) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34, Fidelity Earnings reports. The business had revenue of $17.80 million during the quarter, compared to analyst estimates of $18.05 million. Central Valley Community Bancorp had a net margin of 26.92% and a return on equity of 9.29%.

Central Valley Community Bancorp stock opened at $19.78 on Friday. Central Valley Community Bancorp has a 1 year low of $18.97 and a 1 year high of $22.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average price of $21.30 and a 200 day moving average price of $20.73. The company has a market cap of $263.31 million, a price-to-earnings ratio of 12.44 and a beta of 0.41.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.44 annualized dividend and a dividend yield of 2.22%. Central Valley Community Bancorp’s dividend payout ratio is presently 27.67%.

In other Central Valley Community Bancorp news, Director Robert J. Flautt sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $21.52, for a total transaction of $43,040.00. Following the transaction, the director now owns 27,796 shares of the company’s stock, valued at $598,169.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.44% of the company’s stock.

Several analysts have commented on the stock. Raymond James cut shares of Central Valley Community Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 7th. BidaskClub lowered Central Valley Community Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 16th. Zacks Investment Research upgraded Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler began coverage on Central Valley Community Bancorp in a research report on Thursday. They issued an “overweight” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.33.

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.

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Earnings History for Central Valley Community Bancorp (NASDAQ:CVCY)

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