Zacks: Analysts Expect Central Valley Community Bancorp (NASDAQ:CVCY) Will Announce Quarterly Sales of $18.05 Million

Brokerages expect that Central Valley Community Bancorp (NASDAQ:CVCY) will report $18.05 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Central Valley Community Bancorp’s earnings, with the highest sales estimate coming in at $18.20 million and the lowest estimate coming in at $17.90 million. Central Valley Community Bancorp posted sales of $18.38 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The firm is expected to report its next quarterly earnings report on Wednesday, January 22nd.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full-year sales of $77.30 million for the current year, with estimates ranging from $77.10 million to $77.50 million. For the next financial year, analysts forecast that the company will report sales of $72.50 million, with estimates ranging from $71.50 million to $73.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. Central Valley Community Bancorp had a net margin of 27.82% and a return on equity of 9.77%. The business had revenue of $19.93 million during the quarter, compared to analysts’ expectations of $18.05 million.

Several equities research analysts recently commented on CVCY shares. BidaskClub lowered shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 24th. Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Sandler O’Neill lowered shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.00.

Shares of Central Valley Community Bancorp stock traded up $0.22 on Friday, hitting $20.90. The company’s stock had a trading volume of 12,686 shares, compared to its average volume of 19,413. Central Valley Community Bancorp has a 52-week low of $15.66 and a 52-week high of $21.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $20.76 and a 200-day moving average price of $20.43. The company has a market capitalization of $278.49 million, a P/E ratio of 13.57 and a beta of 0.40.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.44 annualized dividend and a yield of 2.11%. Central Valley Community Bancorp’s dividend payout ratio is currently 28.57%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Central Valley Community Bancorp by 72.1% during the third quarter. Allworth Financial LP now owns 1,910 shares of the financial services provider’s stock worth $39,000 after buying an additional 800 shares during the period. Valeo Financial Advisors LLC lifted its position in Central Valley Community Bancorp by 103.6% in the third quarter. Valeo Financial Advisors LLC now owns 1,957 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 996 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Central Valley Community Bancorp during the second quarter valued at $42,000. Russell Investments Group Ltd. lifted its holdings in shares of Central Valley Community Bancorp by 198.0% during the third quarter. Russell Investments Group Ltd. now owns 5,158 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,427 shares during the period. Finally, Strs Ohio lifted its holdings in shares of Central Valley Community Bancorp by 7.8% during the second quarter. Strs Ohio now owns 15,200 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 1,100 shares during the period. 47.82% 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 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.

Further Reading: What moving averages are used to define a golden cross?

Get a free copy of the Zacks research report on Central Valley Community Bancorp (CVCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.