Central Valley Community Bancorp (NASDAQ:CVCY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $18.00 price target on the financial services provider’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 17.65% from the stock’s current price.
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. “
Central Valley Community Bancorp (NASDAQ:CVCY) traded down 0.65% during mid-day trading on Wednesday, reaching $15.30. 38,386 shares of the company’s stock traded hands. The stock has a market cap of $168.73 million and a P/E ratio of 11.26. Central Valley Community Bancorp has a 1-year low of $9.45 and a 1-year high of $16.31. The firm has a 50-day moving average price of $13.89 and a 200-day moving average price of $12.42.
An institutional investor recently bought a new position in Central Valley Community Bancorp stock. Smith Asset Management Group LP purchased a new position in shares of Central Valley Community Bancorp (NASDAQ:CVCY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,510 shares of the financial services provider’s stock, valued at approximately $357,000. Smith Asset Management Group LP owned 0.23% of Central Valley Community Bancorp at the end of the most recent quarter.
A number of other research firms also recently issued reports on CVCY. Keefe, Bruyette & Woods upgraded shares of Central Valley Community Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $12.50 to $13.00 in a research report on Thursday, April 21st. Sandler O’Neill upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, April 21st.
Central Valley Community Bancorp is a bank holding company, which operates through its wholly owned 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. The Company serves 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 their surrounding areas through the Bank.
