Central Valley Community Bancorp (CVCY) Lowered to Sell at Zacks Investment Research

Central Valley Community Bancorp (NASDAQ:CVCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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 also recently weighed in on the stock. ValuEngine upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. FIG Partners restated a “market perform” rating and set a $24.00 price target (up previously from $23.00) on shares of Central Valley Community Bancorp in a report on Sunday, July 23rd. Finally, BidaskClub downgraded shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.

Shares of Central Valley Community Bancorp (NASDAQ CVCY) traded up 1.20% during mid-day trading on Tuesday, reaching $20.19. 15,642 shares of the company were exchanged. The firm’s 50-day moving average is $20.05 and its 200-day moving average is $20.88. Central Valley Community Bancorp has a 12 month low of $13.75 and a 12 month high of $23.94. The company has a market capitalization of $246.54 million, a price-to-earnings ratio of 16.31 and a beta of 0.19.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.10. The business had revenue of $17.88 million for the quarter, compared to the consensus estimate of $15.85 million. Central Valley Community Bancorp had a net margin of 23.78% and a return on equity of 8.94%. On average, equities analysts forecast that Central Valley Community Bancorp will post $1.22 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Central Valley Community Bancorp (CVCY) Lowered to Sell at Zacks Investment Research” was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.chaffeybreeze.com/2017/09/19/central-valley-community-bancorp-cvcy-lowered-to-sell-at-zacks-investment-research.html.

In other news, Director Daniel J. Doyle sold 6,600 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $19.56, for a total transaction of $129,096.00. Following the transaction, the director now owns 79,000 shares in the company, valued at approximately $1,545,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lydia E. Shaw sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $19.98, for a total transaction of $29,970.00. Following the transaction, the insider now owns 18,500 shares in the company, valued at approximately $369,630. The disclosure for this sale can be found here. 21.57% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CVCY. Teachers Advisors LLC grew its stake in Central Valley Community Bancorp by 9.4% in the 4th quarter. Teachers Advisors LLC now owns 14,734 shares of the financial services provider’s stock valued at $294,000 after buying an additional 1,265 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Central Valley Community Bancorp by 31.1% in the 1st quarter. Russell Investments Group Ltd. now owns 28,951 shares of the financial services provider’s stock valued at $593,000 after buying an additional 6,865 shares during the last quarter. LSV Asset Management grew its stake in Central Valley Community Bancorp by 31.7% in the 1st quarter. LSV Asset Management now owns 16,596 shares of the financial services provider’s stock valued at $340,000 after buying an additional 3,996 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Central Valley Community Bancorp by 32.8% in the 1st quarter. Bank of New York Mellon Corp now owns 55,127 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 13,631 shares during the last quarter. Finally, Oxford Asset Management acquired a new position in Central Valley Community Bancorp in the 1st quarter valued at $298,000. Institutional investors and hedge funds own 43.92% of the company’s stock.

Central Valley Community Bancorp Company Profile

Central Valley Community Bancorp is a bank holding company, which operates through its subsidiary, Central Valley Community Bank (the Bank). The Company’s principal business is to provide, through its banking subsidiary, financial services in its primary market area in California. It serves over seven contiguous counties in California’s central valley, including Fresno County, Madera County, Merced County, Sacramento County, San Joaquin County, Stanislaus County, and Tulare County, and surrounding areas through the Bank.

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.

Latest News

Leave a Reply