Zacks: Brokerages Anticipate Central Valley Community Bancorp (NASDAQ:CVCY) Will Post Quarterly Sales of $18.53 Million

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Wall Street brokerages expect that Central Valley Community Bancorp (NASDAQ:CVCY) will announce $18.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Central Valley Community Bancorp’s earnings, with estimates ranging from $18.50 million to $18.60 million. Central Valley Community Bancorp reported sales of $18.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.9%. The business is scheduled to issue its next earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full year sales of $74.07 million for the current fiscal year, with estimates ranging from $73.10 million to $74.70 million. For the next financial year, analysts forecast that the firm will post sales of $76.00 million, with estimates ranging from $75.00 million to $76.80 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The company had revenue of $20.54 million for the quarter, compared to analyst estimates of $18.33 million. Central Valley Community Bancorp had a return on equity of 10.14% and a net margin of 28.57%.

A number of equities research analysts have recently commented on CVCY shares. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. DA Davidson reaffirmed a “neutral” rating on shares of Central Valley Community Bancorp in a research report on Monday, April 22nd. Raymond James dropped their price target on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Finally, ValuEngine lowered China Southern Airlines from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.

Shares of NASDAQ CVCY traded down $0.08 during mid-day trading on Monday, reaching $20.42. 12,989 shares of the company’s stock were exchanged, compared to its average volume of 23,383. The stock has a market capitalization of $278.94 million, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s fifty day moving average is $20.25. Central Valley Community Bancorp has a twelve month low of $15.66 and a twelve month high of $22.00.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, August 1st. Central Valley Community Bancorp’s dividend payout ratio is currently 28.57%.

Institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC boosted its holdings in Central Valley Community Bancorp by 6.7% in the first quarter. ClariVest Asset Management LLC now owns 35,200 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 2,200 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in Central Valley Community Bancorp by 379.7% in the first quarter. Kennedy Capital Management Inc. now owns 149,989 shares of the financial services provider’s stock worth $2,932,000 after acquiring an additional 118,724 shares in the last quarter. Walthausen & Co. LLC boosted its holdings in Central Valley Community Bancorp by 17.0% in the first quarter. Walthausen & Co. LLC now owns 78,546 shares of the financial services provider’s stock worth $1,536,000 after acquiring an additional 11,420 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Central Valley Community Bancorp by 29.8% in the first quarter. Acadian Asset Management LLC now owns 22,577 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 5,188 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Central Valley Community Bancorp by 63.7% in the first quarter. Systematic Financial Management LP now owns 29,550 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 11,500 shares in the last quarter. 46.94% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Central Valley Community Bancorp (NASDAQ:CVCY)

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