Brokerages Anticipate Central Valley Community Bancorp (CVCY) Will Announce Quarterly Sales of $18.27 Million

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Brokerages predict that Central Valley Community Bancorp (NASDAQ:CVCY) will report sales of $18.27 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Central Valley Community Bancorp’s earnings. The lowest sales estimate is $18.10 million and the highest is $18.50 million. Central Valley Community Bancorp posted sales of $18.20 million in the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The company is expected to issue its next quarterly earnings results on Wednesday, April 17th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full year sales of $74.00 million for the current fiscal year, with estimates ranging from $72.90 million to $75.30 million. For the next financial year, analysts anticipate that the business will post sales of $76.30 million, with estimates ranging from $74.70 million to $78.80 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its earnings results on Wednesday, January 23rd. The financial services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.01). The firm had revenue of $18.38 million during the quarter, compared to analyst estimates of $18.20 million. Central Valley Community Bancorp had a return on equity of 9.99% and a net margin of 28.57%.

Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. BidaskClub cut shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Finally, Raymond James started coverage on shares of Central Valley Community Bancorp in a research report on Wednesday, April 10th. They set an “outperform” rating and a $22.00 price target on the stock.

Shares of CVCY opened at $19.67 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.02. Central Valley Community Bancorp has a 52-week low of $15.66 and a 52-week high of $22.34. The stock has a market capitalization of $269.48 million, a PE ratio of 12.77, a P/E/G ratio of 1.55 and a beta of 0.26.

Several institutional investors and hedge funds have recently made changes to their positions in CVCY. Vanguard Group Inc raised its position in Central Valley Community Bancorp by 1.7% in the third quarter. Vanguard Group Inc now owns 449,985 shares of the financial services provider’s stock worth $9,725,000 after acquiring an additional 7,519 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Central Valley Community Bancorp by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 449,985 shares of the financial services provider’s stock valued at $9,725,000 after buying an additional 7,519 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Central Valley Community Bancorp by 45.1% in the 4th quarter. Rhumbline Advisers now owns 16,135 shares of the financial services provider’s stock valued at $304,000 after buying an additional 5,017 shares in the last quarter. Menta Capital LLC grew its stake in shares of Central Valley Community Bancorp by 27.7% in the 4th quarter. Menta Capital LLC now owns 27,667 shares of the financial services provider’s stock valued at $522,000 after buying an additional 6,009 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Central Valley Community Bancorp by 26.1% during the fourth quarter. Acadian Asset Management LLC now owns 17,389 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 3,596 shares during the period. 46.82% of the stock is owned by institutional investors.

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 deposit products, such as 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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