Central Valley Community Bancorp (CVCY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning. Zacks Investment Research currently has $23.00 target price on the financial services provider’s stock.

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. “

Shares of Central Valley Community Bancorp (NASDAQ CVCY) traded up $0.27 during trading hours on Monday, hitting $20.35. The stock had a trading volume of 19,700 shares, compared to its average volume of 24,700. Central Valley Community Bancorp has a one year low of $17.62 and a one year high of $23.94. The firm has a market cap of $272.71, a price-to-earnings ratio of 15.42, a PEG ratio of 1.79 and a beta of 0.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.67 and a quick ratio of 0.67.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Central Valley Community Bancorp had a return on equity of 9.41% and a net margin of 24.80%. The company had revenue of $16.13 million for the quarter, compared to analyst estimates of $16.60 million. equities research analysts anticipate that Central Valley Community Bancorp will post 1.26 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. OxFORD Asset Management LLP grew its holdings in shares of Central Valley Community Bancorp by 74.7% during the 3rd quarter. OxFORD Asset Management LLP now owns 35,890 shares of the financial services provider’s stock worth $793,000 after purchasing an additional 15,351 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Central Valley Community Bancorp by 25.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 176,583 shares of the financial services provider’s stock worth $3,938,000 after purchasing an additional 36,138 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Central Valley Community Bancorp by 23.1% during the 3rd quarter. Wells Fargo & Company MN now owns 22,954 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 4,314 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Central Valley Community Bancorp by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,922 shares of the financial services provider’s stock worth $2,771,000 after purchasing an additional 4,221 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Central Valley Community Bancorp by 107.1% during the 3rd quarter. Systematic Financial Management LP now owns 17,400 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 9,000 shares in the last quarter. 40.73% of the stock is currently owned by institutional investors.

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Central Valley Community Bancorp Company Profile

Central Valley Community Bancorp is a bank holding company, which operates through its 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. It serves over 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 surrounding areas through the Bank.

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