Research Analysts Issue Forecasts for Central Valley Community Bancorp’s FY2018 Earnings (CVCY)

Central Valley Community Bancorp (NASDAQ:CVCY) – Research analysts at DA Davidson upped their FY2018 earnings per share (EPS) estimates for shares of Central Valley Community Bancorp in a note issued to investors on Thursday, October 18th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.57 for the year, up from their prior forecast of $1.47. DA Davidson also issued estimates for Central Valley Community Bancorp’s Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.41 EPS and Q4 2019 earnings at $0.43 EPS.

A number of other equities analysts have also recently issued reports on CVCY. BidaskClub cut Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Zacks Investment Research upgraded Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Friday, July 20th.

Shares of NASDAQ CVCY opened at $21.70 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $295.42 million and a P/E ratio of 15.72. Central Valley Community Bancorp has a 52-week low of $18.05 and a 52-week high of $22.34.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its earnings results on Wednesday, October 17th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business had revenue of $18.37 million for the quarter, compared to analysts’ expectations of $17.91 million. Central Valley Community Bancorp had a return on equity of 9.49% and a net margin of 22.22%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.09 per share. This is an increase from Central Valley Community Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.66%. Central Valley Community Bancorp’s payout ratio is currently 23.19%.

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers purchased a new position in shares of Central Valley Community Bancorp during the second quarter valued at $235,000. Strs Ohio grew its holdings in shares of Central Valley Community Bancorp by 23.4% during the second quarter. Strs Ohio now owns 13,200 shares of the financial services provider’s stock valued at $279,000 after buying an additional 2,500 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Central Valley Community Bancorp by 112.5% during the second quarter. Acadian Asset Management LLC now owns 17,162 shares of the financial services provider’s stock valued at $363,000 after buying an additional 9,086 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Central Valley Community Bancorp by 15.4% during the first quarter. Russell Investments Group Ltd. now owns 48,202 shares of the financial services provider’s stock valued at $942,000 after buying an additional 6,448 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Central Valley Community Bancorp during the second quarter valued at $1,383,000. Institutional investors and hedge funds own 45.38% of the company’s stock.

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 individuals, and small and middle market businesses. The company accepts deposit products, such as interest-bearing deposits comprising savings, NOW, and money market accounts, as well as time certificates of deposit; and non-interest bearing demand deposits.

Featured Story: What Factors Can Affect Return on Equity?

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

Receive News & Ratings for Central Valley Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Valley Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply