Central Valley Community Bancorp (NASDAQ:CVCY) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Central Valley Community Bancorp (NASDAQ:CVCY) in a research note released on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler cut their target price on shares of Central Valley Community Bancorp from $23.00 to $22.00 and set an overweight rating for the company in a research report on Friday, January 19th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $20.33.

Central Valley Community Bancorp Price Performance

The business’s 50 day simple moving average is $18.78 and its 200-day simple moving average is $18.24. Central Valley Community Bancorp has a 52-week low of $12.59 and a 52-week high of $22.89. The stock has a market capitalization of $235.30 million, a PE ratio of 9.17 and a beta of 0.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 0.65.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Central Valley Community Bancorp had a return on equity of 13.47% and a net margin of 23.39%. The company had revenue of $22.38 million during the quarter, compared to the consensus estimate of $21.86 million. On average, research analysts anticipate that Central Valley Community Bancorp will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Central Valley Community Bancorp

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its stake in Central Valley Community Bancorp by 0.9% in the fourth quarter. American Century Companies Inc. now owns 63,125 shares of the financial services provider’s stock worth $1,337,000 after purchasing an additional 556 shares during the last quarter. UBS Group AG lifted its stake in shares of Central Valley Community Bancorp by 85.1% in the 4th quarter. UBS Group AG now owns 1,488 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 684 shares during the last quarter. BlackRock Inc. boosted its holdings in Central Valley Community Bancorp by 1.4% during the 1st quarter. BlackRock Inc. now owns 59,302 shares of the financial services provider’s stock valued at $1,220,000 after acquiring an additional 790 shares during the period. State Street Corp boosted its holdings in Central Valley Community Bancorp by 2.8% during the 1st quarter. State Street Corp now owns 41,901 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 1,152 shares during the period. Finally, Captrust Financial Advisors grew its position in Central Valley Community Bancorp by 72.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,313 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,390 shares during the last quarter. Hedge funds and other institutional investors own 50.22% of the company’s stock.

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 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.