Central Valley Community Bancorp (CVCY) Expected to Announce Earnings of $0.40 Per Share

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Wall Street brokerages forecast that Central Valley Community Bancorp (NASDAQ:CVCY) will report $0.40 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Central Valley Community Bancorp’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.39. Central Valley Community Bancorp posted earnings of $0.28 per share in the same quarter last year, which would suggest a positive year over year growth rate of 42.9%. The company is scheduled to report its next quarterly earnings results on Wednesday, January 23rd.

On average, analysts expect that Central Valley Community Bancorp will report full year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.57. For the next financial year, analysts forecast that the firm will report earnings of $1.66 per share, with EPS estimates ranging from $1.63 to $1.68. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Central Valley Community Bancorp.

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

CVCY has been the topic of several recent analyst reports. Zacks Investment Research lowered Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub upgraded Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 19th.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Central Valley Community Bancorp by 1.7% during the 3rd quarter. BlackRock Inc. now owns 567,780 shares of the financial services provider’s stock worth $12,271,000 after acquiring an additional 9,535 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its position in Central Valley Community Bancorp by 11.8% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 73,039 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 7,701 shares during the period. Northern Trust Corp grew its position in Central Valley Community Bancorp by 12.5% in the 2nd quarter. Northern Trust Corp now owns 119,296 shares of the financial services provider’s stock worth $2,525,000 after purchasing an additional 13,232 shares during the period. Bank of New York Mellon Corp grew its position in Central Valley Community Bancorp by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,747 shares of the financial services provider’s stock worth $1,624,000 after purchasing an additional 3,121 shares during the period. Finally, Renaissance Technologies LLC grew its position in Central Valley Community Bancorp by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 69,700 shares of the financial services provider’s stock worth $1,475,000 after purchasing an additional 8,900 shares during the period. Institutional investors and hedge funds own 45.24% of the company’s stock.

Shares of CVCY traded down $0.10 during midday trading on Friday, hitting $19.99. The company’s stock had a trading volume of 9,300 shares, compared to its average volume of 26,108. Central Valley Community Bancorp has a one year low of $18.05 and a one year high of $22.34. 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 cap of $275.43 million, a price-to-earnings ratio of 14.49, a PEG ratio of 1.60 and a beta of 0.11.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Central Valley Community Bancorp’s previous quarterly dividend of $0.08. Central Valley Community Bancorp’s payout ratio is currently 26.09%.

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

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