Central Valley Community Bancorp (CVCY) Upgraded by BidaskClub to Sell

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Central Valley Community Bancorp (NASDAQ:CVCY) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research upgraded shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, June 19th.

Shares of NASDAQ CVCY opened at $21.63 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 52 week low of $18.05 and a 52 week high of $22.75. The stock has a market capitalization of $297.91 million, a P/E ratio of 15.67, a P/E/G ratio of 1.82 and a beta of 0.03.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Central Valley Community Bancorp had a net margin of 21.19% and a return on equity of 9.20%. The firm had revenue of $18.08 million during the quarter, compared to analysts’ expectations of $18.25 million. research analysts anticipate that Central Valley Community Bancorp will post 1.49 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio lifted its stake in shares of Central Valley Community Bancorp by 23.4% in the second quarter. Strs Ohio now owns 13,200 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 2,500 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Central Valley Community Bancorp by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 76,747 shares of the financial services provider’s stock valued at $1,624,000 after purchasing an additional 3,121 shares during the period. Russell Investments Group Ltd. raised its position in 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 worth $942,000 after acquiring an additional 6,448 shares during the last quarter. Systematic Financial Management LP raised its position in Central Valley Community Bancorp by 41.1% during the first quarter. Systematic Financial Management LP now owns 24,550 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 7,150 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Central Valley Community Bancorp by 14.6% during the second quarter. Renaissance Technologies LLC now owns 69,700 shares of the financial services provider’s stock worth $1,475,000 after acquiring an additional 8,900 shares during the last quarter. Hedge funds and other institutional investors own 45.32% 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.

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