Central Valley Community Bancorp (NASDAQ:CVCY) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Central Valley Community Bancorp (NASDAQ:CVCY) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Central Valley Community Bancorp Price Performance

The firm’s 50-day simple moving average is $18.78 and its two-hundred day simple moving average is $18.24. Central Valley Community Bancorp has a twelve month low of $12.59 and a twelve month high of $22.89. The firm has a market cap of $235.30 million, a P/E ratio of 9.17 and a beta of 0.85. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.34.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Central Valley Community Bancorp had a net margin of 23.39% and a return on equity of 13.47%. The business had revenue of $22.38 million for the quarter, compared to analyst estimates of $21.86 million. As a group, equities analysts anticipate that Central Valley Community Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Central Valley Community Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Central Valley Community Bancorp during the third quarter worth $77,000. Private Management Group Inc. raised its stake in Central Valley Community Bancorp by 1.2% in the third quarter. Private Management Group Inc. now owns 522,623 shares of the financial services provider’s stock valued at $7,374,000 after purchasing an additional 6,400 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Central Valley Community Bancorp by 6.7% in the third quarter. Orion Portfolio Solutions LLC now owns 25,414 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 1,593 shares in the last quarter. Bridgewealth Advisory Group LLC acquired a new position in Central Valley Community Bancorp in the third quarter valued at about $173,000. Finally, BNP Paribas Arbitrage SA raised its stake in Central Valley Community Bancorp by 582.9% in the second quarter. BNP Paribas Arbitrage SA now owns 1,762 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,504 shares in the last quarter. Institutional investors and hedge funds 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.