StockNews.com Initiates Coverage on Central Valley Community Bancorp (NASDAQ:CVCY)

Analysts at StockNews.com began coverage on shares of Central Valley Community Bancorp (NASDAQ:CVCY) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

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

Central Valley Community Bancorp Stock Performance

The stock has a 50 day moving average price of $18.78 and a 200 day moving average price of $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 capitalization 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 released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Central Valley Community Bancorp had a return on equity of 13.47% and a net margin of 23.39%. The firm had revenue of $22.38 million during the quarter, compared to analyst estimates of $21.86 million. As a group, sell-side analysts forecast that Central Valley Community Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Central Valley Community Bancorp in the third quarter valued at $77,000. Private Management Group Inc. increased its stake in shares of 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 buying an additional 6,400 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of 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 buying an additional 1,593 shares in the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in shares of Central Valley Community Bancorp in the third quarter valued at $173,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of 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 buying an additional 1,504 shares in the last quarter. 50.22% of the stock is currently owned by institutional investors and hedge funds.

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.