Central Valley Community Bancorp (NASDAQ:CVCY) Expected to Post Earnings of $0.32 Per Share
Equities research analysts expect Central Valley Community Bancorp (NASDAQ:CVCY) to announce earnings per share (EPS) of $0.32 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Central Valley Community Bancorp’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.33. Central Valley Community Bancorp reported earnings of $0.28 per share during the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The business is scheduled to issue its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Central Valley Community Bancorp will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.30. For the next year, analysts expect that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.35 to $1.36. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Central Valley Community Bancorp.
Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.10. The firm had revenue of $17.88 million during the quarter, compared to analysts’ expectations of $15.85 million. Central Valley Community Bancorp had a net margin of 23.78% and a return on equity of 9.12%.
Several research firms have recently commented on CVCY. Zacks Investment Research upgraded Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, April 24th. ValuEngine raised Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, FIG Partners reissued a “market perform” rating and set a $24.00 price objective (up from $23.00) on shares of Central Valley Community Bancorp in a research report on Sunday.
Central Valley Community Bancorp (CVCY) traded up 0.41% during trading on Wednesday, hitting $22.14. 2,341 shares of the stock traded hands. The stock has a market cap of $270.35 million, a P/E ratio of 17.88 and a beta of 0.20. Central Valley Community Bancorp has a 52-week low of $13.75 and a 52-week high of $23.94. The stock has a 50 day moving average price of $22.18 and a 200-day moving average price of $20.98.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 2nd. Central Valley Community Bancorp’s payout ratio is 19.35%.
Several institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in Central Valley Community Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 5,382 shares of the financial services provider’s stock valued at $110,000 after buying an additional 350 shares in the last quarter. AXA bought a new position in Central Valley Community Bancorp during the first quarter worth about $215,000. Teachers Advisors LLC raised its position in Central Valley Community Bancorp by 9.4% in the fourth quarter. Teachers Advisors LLC now owns 14,734 shares of the financial services provider’s stock worth $294,000 after buying an additional 1,265 shares in the last quarter. Oxford Asset Management bought a new position in Central Valley Community Bancorp during the first quarter worth about $298,000. Finally, LSV Asset Management raised its position in Central Valley Community Bancorp by 31.7% in the first quarter. LSV Asset Management now owns 16,596 shares of the financial services provider’s stock worth $340,000 after buying an additional 3,996 shares in the last quarter. Institutional investors own 42.16% of the company’s stock.
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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