Central Valley Community Bancorp (NASDAQ:CVCY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $26.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 17.49% from the stock’s previous close.

According to Zacks, “Central Valley Community Bank is the sole subsidiary of Central Valley Community Bancorp. The Bank operates full-service offices in Clovis, Fresno, Prather, Kerman and Sacramento, plus Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Investment services are also provided by Investment Centers of America. “

Separately, ValuEngine downgraded Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, May 19th.

Shares of Central Valley Community Bancorp (NASDAQ CVCY) traded down 0.41% during midday trading on Friday, reaching $22.13. The company had a trading volume of 66,796 shares. The company has a 50 day moving average of $22.15 and a 200 day moving average of $20.93. The company has a market capitalization of $270.25 million, a PE ratio of 16.17 and a beta of 0.20. Central Valley Community Bancorp has a one year low of $13.75 and a one year high of $23.94.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.10. Central Valley Community Bancorp had a return on equity of 9.12% and a net margin of 23.78%. The business had revenue of $17.88 million for the quarter, compared to the consensus estimate of $15.85 million. Analysts predict that Central Valley Community Bancorp will post $1.30 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in CVCY. Wellington Management Group LLP bought a new position in shares of Central Valley Community Bancorp during the first quarter worth about $12,414,000. Vanguard Group Inc. boosted its position in shares of Central Valley Community Bancorp by 33.4% in the first quarter. Vanguard Group Inc. now owns 378,232 shares of the financial services provider’s stock worth $7,754,000 after buying an additional 94,609 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Central Valley Community Bancorp by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 116,426 shares of the financial services provider’s stock worth $2,387,000 after buying an additional 37,328 shares during the period. State Street Corp boosted its position in shares of Central Valley Community Bancorp by 22.2% in the fourth quarter. State Street Corp now owns 111,771 shares of the financial services provider’s stock worth $2,233,000 after buying an additional 20,284 shares during the period. Finally, FMR LLC boosted its position in shares of Central Valley Community Bancorp by 17.5% in the first quarter. FMR LLC now owns 82,227 shares of the financial services provider’s stock worth $1,686,000 after buying an additional 12,227 shares during the period. 42.60% of the stock is currently owned by hedge funds and other institutional investors.

About Central Valley Community Bancorp

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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