Analysts Expect Central Valley Community Bancorp (CVCY) Will Post Quarterly Sales of $18.20 Million

Wall Street analysts expect that Central Valley Community Bancorp (NASDAQ:CVCY) will announce $18.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Central Valley Community Bancorp’s earnings, with estimates ranging from $17.80 million to $18.60 million. Central Valley Community Bancorp reported sales of $15.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 17%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, April 18th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full year sales of $18.20 million for the current financial year, with estimates ranging from $74.00 million to $77.30 million. For the next year, analysts anticipate that the company will report sales of $80.80 million per share, with estimates ranging from $78.70 million to $82.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Central Valley Community Bancorp.

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Central Valley Community Bancorp (NASDAQ:CVCY) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The firm had revenue of $17.51 million for the quarter, compared to analyst estimates of $17.85 million. Central Valley Community Bancorp had a return on equity of 9.52% and a net margin of 20.56%.

A number of research analysts have commented on CVCY shares. Zacks Investment Research lowered Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Sandler O’Neill set a $25.00 price objective on Central Valley Community Bancorp and gave the company a “buy” rating in a research report on Thursday, January 4th. BidaskClub lowered Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, ValuEngine lowered Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.67.

CVCY traded down $0.13 during mid-day trading on Thursday, reaching $19.84. The stock had a trading volume of 17,128 shares, compared to its average volume of 22,422. The firm has a market capitalization of $272.82, a price-to-earnings ratio of 14.38, a PEG ratio of 1.74 and a beta of 0.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.70 and a current ratio of 0.70. Central Valley Community Bancorp has a 52 week low of $17.62 and a 52 week high of $23.94.

In other news, Director Daniel N. Cunningham sold 5,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $20.09, for a total value of $100,450.00. Following the transaction, the director now directly owns 132,156 shares in the company, valued at approximately $2,655,014.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Cunningham sold 4,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $20.08, for a total value of $90,360.00. Following the completion of the transaction, the director now owns 132,156 shares in the company, valued at $2,653,692.48. The disclosure for this sale can be found here. 21.57% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of CVCY. State Street Corp boosted its position in shares of Central Valley Community Bancorp by 9.9% in the 2nd quarter. State Street Corp now owns 131,496 shares of the financial services provider’s stock worth $2,914,000 after purchasing an additional 11,845 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Central Valley Community Bancorp by 37.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,140 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 2,770 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Central Valley Community Bancorp by 22.2% during the third quarter. Russell Investments Group Ltd. now owns 27,910 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 5,062 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Central Valley Community Bancorp by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 128,922 shares of the financial services provider’s stock worth $2,771,000 after acquiring an additional 4,221 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Central Valley Community Bancorp by 23.1% during the third quarter. Wells Fargo & Company MN now owns 22,954 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 4,314 shares in the last quarter. Institutional investors and hedge funds own 43.13% of the company’s stock.

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Central Valley Community Bancorp Company Profile

Central Valley Community Bancorp is a bank holding company, which operates through its subsidiary, Central Valley Community Bank (the Bank). The Company’s principal business is to provide, through its banking subsidiary, financial services in its primary market area in California. It serves over seven contiguous counties in California’s central valley, including Fresno County, Madera County, Merced County, Sacramento County, San Joaquin County, Stanislaus County, and Tulare County, and surrounding areas through the Bank.

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

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