Central Valley Community Bancorp (NASDAQ:CVCY) Stock Rating Upgraded by StockNews.com

Central Valley Community Bancorp (NASDAQ:CVCYGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities research analysts have also recently issued reports on CVCY. Piper Sandler decreased their price target on shares of Central Valley Community Bancorp to $17.50 in a research note on Monday, July 4th. DA Davidson decreased their price target on shares of Central Valley Community Bancorp to $20.00 in a research note on Friday, July 22nd.

Central Valley Community Bancorp Stock Performance

NASDAQ:CVCY opened at $18.10 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $17.27 and a two-hundred day moving average price of $18.34. Central Valley Community Bancorp has a twelve month low of $14.16 and a twelve month high of $23.99. The company has a market capitalization of $212.11 million, a P/E ratio of 8.30 and a beta of 0.82.

Central Valley Community Bancorp (NASDAQ:CVCYGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. Central Valley Community Bancorp had a net margin of 31.00% and a return on equity of 12.14%. The company had revenue of $20.58 million for the quarter, compared to analysts’ expectations of $20.13 million. As a group, research analysts expect that Central Valley Community Bancorp will post 2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Central Valley Community Bancorp

Several hedge funds have recently modified their holdings of CVCY. BNP Paribas Arbitrage SA lifted its position in Central Valley Community Bancorp by 582.9% during the second quarter. BNP Paribas Arbitrage SA now owns 1,762 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,504 shares in the last quarter. Captrust Financial Advisors lifted its position in Central Valley Community Bancorp by 72.3% during the second quarter. Captrust Financial Advisors now owns 3,313 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,390 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Central Valley Community Bancorp during the second quarter valued at approximately $101,000. Citigroup Inc. acquired a new position in Central Valley Community Bancorp during the first quarter valued at approximately $195,000. Finally, Institute for Wealth Management LLC. acquired a new position in Central Valley Community Bancorp during the first quarter valued at approximately $215,000. 45.69% of the stock is owned by institutional investors and hedge funds.

Central Valley Community Bancorp Company Profile

(Get Rating)

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 demand, savings, and time deposits; certificates of deposit; and non-interest-bearing demand deposits, as well as provides NOW and money market accounts.

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