Central Valley Community Bancorp (NASDAQ:CVCY) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Central Valley Community Bancorp (NASDAQ:CVCY) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

CVCY has been the topic of several other research reports. DA Davidson reaffirmed a neutral rating on shares of Central Valley Community Bancorp in a research note on Monday, April 22nd. ValuEngine downgraded shares of China Southern Airlines from a hold rating to a sell rating in a research note on Monday, April 29th. Raymond James reduced their price target on shares of Marathon Petroleum from $90.00 to $85.00 and set a strong-buy rating on the stock in a research note on Wednesday, April 10th. Finally, BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $22.00.

Shares of CVCY opened at $20.59 on Wednesday. Central Valley Community Bancorp has a twelve month low of $15.66 and a twelve month high of $22.00. The stock has a market capitalization of $281.22 million, a P/E ratio of 13.37, a P/E/G ratio of 1.64 and a beta of 0.34. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $20.20.

Central Valley Community Bancorp (NASDAQ:CVCY) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. Central Valley Community Bancorp had a net margin of 28.18% and a return on equity of 9.73%. The business had revenue of $18.81 million for the quarter, compared to the consensus estimate of $18.27 million. As a group, sell-side analysts forecast that Central Valley Community Bancorp will post 1.57 EPS for the current year.

A number of hedge funds have recently bought and sold shares of CVCY. Kennedy Capital Management Inc. increased its stake in Central Valley Community Bancorp by 379.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 149,989 shares of the financial services provider’s stock worth $2,932,000 after buying an additional 118,724 shares during the period. Dimensional Fund Advisors LP increased its stake in Central Valley Community Bancorp by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 332,983 shares of the financial services provider’s stock worth $6,283,000 after buying an additional 29,659 shares during the period. BlackRock Inc. increased its stake in Central Valley Community Bancorp by 3.3% in the 4th quarter. BlackRock Inc. now owns 586,274 shares of the financial services provider’s stock worth $11,063,000 after buying an additional 18,494 shares during the period. First Trust Advisors LP purchased a new position in Central Valley Community Bancorp in the 4th quarter worth about $274,000. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Central Valley Community Bancorp by 9.2% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 167,198 shares of the financial services provider’s stock worth $3,269,000 after buying an additional 14,077 shares during the period. 46.94% of the stock is currently 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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