Central Valley Community Bancorp (CVCY) Declares Dividend Increase – $0.09 Per Share

Central Valley Community Bancorp (NASDAQ:CVCY) announced a quarterly dividend on Thursday, October 18th, Wall Street Journal reports. Shareholders of record on Friday, November 2nd will be paid a dividend of 0.09 per share by the financial services provider on Friday, November 16th. This represents a $0.36 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, November 1st. This is an increase from Central Valley Community Bancorp’s previous quarterly dividend of $0.08.

Central Valley Community Bancorp has increased its dividend by an average of 6.3% annually over the last three years. Central Valley Community Bancorp has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Central Valley Community Bancorp to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 19.6%.

Shares of Central Valley Community Bancorp stock opened at $20.94 on Friday. Central Valley Community Bancorp has a 1 year low of $18.05 and a 1 year high of $22.34. The company has a market cap of $275.43 million and a price-to-earnings ratio of 13.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.73 and a quick ratio of 0.73.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Central Valley Community Bancorp had a net margin of 22.22% and a return on equity of 9.49%. The business had revenue of $18.37 million during the quarter, compared to analyst estimates of $17.91 million. Equities research analysts predict that Central Valley Community Bancorp will post 1.49 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Central Valley Community Bancorp stock. Bank of New York Mellon Corp lifted its holdings in Central Valley Community Bancorp (NASDAQ:CVCY) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 76,747 shares of the financial services provider’s stock after acquiring an additional 3,121 shares during the quarter. Bank of New York Mellon Corp owned 0.56% of Central Valley Community Bancorp worth $1,624,000 at the end of the most recent quarter. 45.38% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on CVCY shares. Zacks Investment Research lowered shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st.

About Central Valley Community Bancorp

Central Valley Community Bancorp operates as the bank holding company for the Central Valley Community Bank that provides various commercial banking services to individuals, and small and middle market businesses. The company accepts deposit products, such as interest-bearing deposits comprising savings, NOW, and money market accounts, as well as time certificates of deposit; and non-interest bearing demand deposits.

Featured Story: What is a stock buyback?

Dividend History 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.

Leave a Reply