DA Davidson Weighs in on Central Valley Community Bancorp’s FY2020 Earnings (NASDAQ:CVCY)

Central Valley Community Bancorp (NASDAQ:CVCY) – Analysts at DA Davidson reduced their FY2020 EPS estimates for Central Valley Community Bancorp in a research note issued to investors on Friday, October 18th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $1.45 per share for the year, down from their prior forecast of $1.49.

Central Valley Community Bancorp (NASDAQ:CVCY) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Central Valley Community Bancorp had a return on equity of 9.84% and a net margin of 27.82%. The firm had revenue of $19.93 million during the quarter, compared to analyst estimates of $18.05 million.

A number of other equities research analysts have also weighed in on the company. BidaskClub lowered Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 24th. Sandler O’Neill lowered Central Valley Community Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Zacks Investment Research raised Central Valley Community Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.

NASDAQ CVCY opened at $20.29 on Monday. Central Valley Community Bancorp has a 1-year low of $15.66 and a 1-year high of $21.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $20.52 and a 200-day moving average of $20.23. The firm has a market cap of $270.43 million, a PE ratio of 13.18 and a beta of 0.38.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Central Valley Community Bancorp by 3.9% during the 2nd quarter. BlackRock Inc. now owns 595,153 shares of the financial services provider’s stock valued at $12,779,000 after purchasing an additional 22,528 shares during the period. Dalton Greiner Hartman Maher & Co. increased its holdings in Central Valley Community Bancorp by 9.2% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 181,723 shares of the financial services provider’s stock valued at $3,698,000 after purchasing an additional 15,275 shares during the period. Renaissance Technologies LLC increased its holdings in Central Valley Community Bancorp by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 145,592 shares of the financial services provider’s stock valued at $3,126,000 after purchasing an additional 26,211 shares during the period. Jacobs Asset Management LLC increased its holdings in Central Valley Community Bancorp by 287.8% during the 2nd quarter. Jacobs Asset Management LLC now owns 139,830 shares of the financial services provider’s stock valued at $3,002,000 after purchasing an additional 103,770 shares during the period. Finally, Northern Trust Corp increased its holdings in Central Valley Community Bancorp by 3.5% during the 2nd quarter. Northern Trust Corp now owns 124,738 shares of the financial services provider’s stock valued at $2,678,000 after purchasing an additional 4,236 shares during the period. 47.31% of the stock is owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, October 31st. Central Valley Community Bancorp’s dividend payout ratio (DPR) is presently 28.57%.

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

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