DA Davidson Equities Analysts Increase Earnings Estimates for Central Valley Community Bancorp (CVCY)

Central Valley Community Bancorp (NASDAQ:CVCY) – Equities researchers at DA Davidson lifted their Q1 2018 EPS estimates for Central Valley Community Bancorp in a research note issued to investors on Thursday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.22. DA Davidson also issued estimates for Central Valley Community Bancorp’s FY2018 earnings at $1.40 EPS and FY2019 earnings at $1.62 EPS.

Several other research analysts have also issued reports on CVCY. Zacks Investment Research raised Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, October 20th. Sandler O’Neill set a $25.00 target price on Central Valley Community Bancorp and gave the stock a “buy” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Central Valley Community Bancorp has a consensus rating of “Buy” and a consensus price target of $24.00.

Central Valley Community Bancorp (CVCY) opened at $19.59 on Monday. Central Valley Community Bancorp has a 52-week low of $17.62 and a 52-week high of $23.94. The stock has a market capitalization of $274.34, a P/E ratio of 17.34, a PEG ratio of 1.80 and a beta of 0.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.67 and a quick ratio of 0.67.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.07. Central Valley Community Bancorp had a return on equity of 9.97% and a net margin of 20.56%. The business had revenue of $17.51 million during the quarter, compared to analysts’ expectations of $17.85 million.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Central Valley Community Bancorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 393,127 shares of the financial services provider’s stock worth $8,711,000 after acquiring an additional 14,895 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Central Valley Community Bancorp by 20.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,701 shares of the financial services provider’s stock worth $2,764,000 after acquiring an additional 20,975 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Central Valley Community Bancorp by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 140,445 shares of the financial services provider’s stock worth $3,112,000 after acquiring an additional 24,019 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of Central Valley Community Bancorp in the 2nd quarter worth approximately $290,000. Finally, FMR LLC raised its position in shares of Central Valley Community Bancorp by 257.1% in the 2nd quarter. FMR LLC now owns 293,623 shares of the financial services provider’s stock worth $6,507,000 after acquiring an additional 211,396 shares in the last quarter. 40.66% of the stock is owned by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be given a $0.07 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.43%. This is a positive change from Central Valley Community Bancorp’s previous quarterly dividend of $0.06. Central Valley Community Bancorp’s dividend payout ratio is currently 21.24%.

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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.

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

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