Zacks Investment Research Downgrades Central Valley Community Bancorp (NASDAQ:CVCY) to Hold

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

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. “

Several other brokerages also recently commented on CVCY. ValuEngine raised shares of Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. BidaskClub downgraded shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. DA Davidson reaffirmed a “neutral” rating on shares of Central Valley Community Bancorp in a research note on Monday, April 22nd. Finally, Raymond James started coverage on shares of Central Valley Community Bancorp in a research report on Wednesday, April 10th. They set an “outperform” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Shares of NASDAQ CVCY traded down $0.01 during mid-day trading on Tuesday, hitting $19.65. The stock had a trading volume of 8,437 shares, compared to its average volume of 19,080. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 1 year low of $15.66 and a 1 year high of $22.34. The company has a market cap of $271.15 million, a price-to-earnings ratio of 12.76, a PEG ratio of 1.55 and a beta of 0.31.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Central Valley Community Bancorp had a net margin of 28.18% and a return on equity of 9.73%. The company had revenue of $18.81 million for the quarter, compared to the consensus estimate of $18.27 million. Equities research analysts anticipate that Central Valley Community Bancorp will post 1.57 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in CVCY. Vanguard Group Inc. increased its stake in Central Valley Community Bancorp by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 449,985 shares of the financial services provider’s stock valued at $9,725,000 after buying an additional 7,519 shares during the last quarter. Rhumbline Advisers increased its stake in Central Valley Community Bancorp by 45.1% in the 4th quarter. Rhumbline Advisers now owns 16,135 shares of the financial services provider’s stock valued at $304,000 after buying an additional 5,017 shares during the last quarter. First Trust Advisors LP acquired a new stake in Central Valley Community Bancorp in the 4th quarter valued at $274,000. Acadian Asset Management LLC increased its stake in shares of Central Valley Community Bancorp by 26.1% during the 4th quarter. Acadian Asset Management LLC now owns 17,389 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 3,596 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Central Valley Community Bancorp by 3.3% during the 4th quarter. BlackRock Inc. now owns 586,274 shares of the financial services provider’s stock worth $11,063,000 after purchasing an additional 18,494 shares during the last quarter. Institutional investors own 46.94% of the company’s stock.

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.

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