Zacks: Brokerages Expect Central Valley Community Bancorp (NASDAQ:CVCY) Will Announce Quarterly Sales of $20.13 Million

Equities analysts predict that Central Valley Community Bancorp (NASDAQ:CVCYGet Rating) will announce sales of $20.13 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Central Valley Community Bancorp’s earnings, with estimates ranging from $19.80 million to $20.70 million. Central Valley Community Bancorp posted sales of $20.16 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.1%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Central Valley Community Bancorp will report full-year sales of $81.71 million for the current financial year, with estimates ranging from $80.10 million to $84.32 million. For the next financial year, analysts expect that the business will report sales of $88.70 million, with estimates ranging from $86.30 million to $92.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCYGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $19.43 million during the quarter, compared to analysts’ expectations of $19.87 million. Central Valley Community Bancorp had a return on equity of 11.53% and a net margin of 32.53%.

Several brokerages recently commented on CVCY. StockNews.com cut Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, May 26th. Zacks Investment Research raised Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, March 31st.

CVCY stock opened at $16.97 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $197.87 million, a P/E ratio of 7.64 and a beta of 0.77. The business has a 50-day moving average of $19.60 and a 200-day moving average of $21.33. Central Valley Community Bancorp has a fifty-two week low of $16.48 and a fifty-two week high of $23.99.

The business also recently declared a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 6th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 5th. This represents a $0.48 annualized dividend and a yield of 2.83%. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 21.62%.

In other Central Valley Community Bancorp news, EVP Patrick A. Luis acquired 1,500 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were purchased at an average price of $18.38 per share, for a total transaction of $27,570.00. Following the completion of the purchase, the executive vice president now directly owns 14,608 shares of the company’s stock, valued at $268,495.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 5,973 shares of company stock worth $113,698 in the last 90 days. Corporate insiders own 15.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in shares of Central Valley Community Bancorp by 35.1% during the fourth quarter. American Century Companies Inc. now owns 38,313 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 9,961 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Central Valley Community Bancorp by 3.8% during the third quarter. The Manufacturers Life Insurance Company now owns 372,513 shares of the financial services provider’s stock worth $8,009,000 after purchasing an additional 13,561 shares during the period. Barclays PLC increased its stake in shares of Central Valley Community Bancorp by 44.4% during the third quarter. Barclays PLC now owns 1,747 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 537 shares during the period. Acadian Asset Management LLC increased its stake in shares of Central Valley Community Bancorp by 18.7% during the fourth quarter. Acadian Asset Management LLC now owns 98,558 shares of the financial services provider’s stock worth $2,045,000 after purchasing an additional 15,501 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Central Valley Community Bancorp during the third quarter worth approximately $790,000. Hedge funds and other institutional investors own 48.93% of the company’s stock.

Central Valley Community Bancorp Company Profile (Get Rating)

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.

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

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