Central Valley Community Bancorp (NASDAQ:CVCY) Receives $19.33 Average Price Target from Brokerages

Central Valley Community Bancorp (NASDAQ:CVCY) has been assigned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.33.

Several research firms recently weighed in on CVCY. Janney Montgomery Scott raised shares of Central Valley Community Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $20.00 in a report on Thursday, October 12th. Piper Sandler boosted their price target on shares of Central Valley Community Bancorp from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. TheStreet upgraded shares of Central Valley Community Bancorp from a “c+” rating to a “b-” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price target on shares of Central Valley Community Bancorp from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 17th. Finally, StockNews.com started coverage on shares of Central Valley Community Bancorp in a research report on Thursday, October 5th. They issued a “hold” rating on the stock.

Central Valley Community Bancorp Stock Performance

CVCY stock opened at $17.51 on Tuesday. The company has a market capitalization of $206.88 million, a P/E ratio of 7.55 and a beta of 0.79. The company has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $15.28. Central Valley Community Bancorp has a fifty-two week low of $12.59 and a fifty-two week high of $25.99. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $22.11 million during the quarter, compared to the consensus estimate of $21.98 million. Central Valley Community Bancorp had a net margin of 25.88% and a return on equity of 15.03%. Sell-side analysts predict that Central Valley Community Bancorp will post 2.19 earnings per share for the current fiscal year.

Central Valley Community Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, November 2nd. Central Valley Community Bancorp’s dividend payout ratio is presently 20.69%.

Institutional Trading of Central Valley Community Bancorp

Hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its stake in Central Valley Community Bancorp by 85.1% during the fourth quarter. UBS Group AG now owns 1,488 shares of the financial services provider’s stock valued at $32,000 after buying an additional 684 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake 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. BNP Paribas Arbitrage SNC lifted its stake in Central Valley Community Bancorp by 4,477.6% during the second quarter. BNP Paribas Arbitrage SNC now owns 2,655 shares of the financial services provider’s stock valued at $41,000 after buying an additional 2,597 shares in the last quarter. Captrust Financial Advisors lifted its stake 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. Finally, California State Teachers Retirement System purchased a new stake in shares of Central Valley Community Bancorp in the second quarter worth approximately $51,000. 50.56% of the stock is owned by hedge funds and other institutional investors.

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