Central Valley Community Bancorp (NASDAQ:CVCY) Short Interest Up 8.7% in June

Central Valley Community Bancorp (NASDAQ:CVCY) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 57,700 shares, a growth of 8.7% from the May 15th total of 53,100 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 17,200 shares, the days-to-cover ratio is currently 3.4 days.

NASDAQ:CVCY traded down $0.08 during mid-day trading on Friday, hitting $20.42. The company had a trading volume of 12,989 shares, compared to its average volume of 23,383. The business has a fifty day simple moving average of $20.25. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $278.90 million, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. Central Valley Community Bancorp has a 1 year low of $15.66 and a 1 year high of $22.00.

Central Valley Community Bancorp (NASDAQ:CVCY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The business had revenue of $20.54 million during the quarter, compared to the consensus estimate of $18.33 million. Central Valley Community Bancorp had a return on equity of 10.14% and a net margin of 28.57%. As a group, sell-side analysts forecast that Central Valley Community Bancorp will post 1.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.15%. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 28.57%.

CVCY has been the topic of several research reports. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. DA Davidson reaffirmed a “neutral” rating on shares of Central Valley Community Bancorp in a research report on Monday, April 22nd. Raymond James cut their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Finally, ValuEngine lowered China Southern Airlines from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVCY. BNP Paribas Arbitrage SA grew its position in Central Valley Community Bancorp by 553.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,412 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,043 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Central Valley Community Bancorp in the 4th quarter valued at $80,000. MetLife Investment Advisors LLC acquired a new stake in shares of Central Valley Community Bancorp in the 4th quarter valued at $110,000. Bank of America Corp DE lifted its stake in shares of Central Valley Community Bancorp by 56.5% in the 4th quarter. Bank of America Corp DE now owns 8,529 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,079 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Central Valley Community Bancorp in the 4th quarter valued at $274,000. 46.94% of the stock is currently owned by institutional investors.

Central Valley Community Bancorp Company Profile

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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