Central Valley Community Bancorp to Post Q4 2023 Earnings of $0.51 Per Share, DA Davidson Forecasts (NASDAQ:CVCY)

Posted by Defense World Staff on Oct 26th, 2023

Central Valley Community Bancorp (NASDAQ:CVCY – Free Report) – Research analysts at DA Davidson issued their Q4 2023 EPS estimates for shares of Central Valley Community Bancorp in a note issued to investors on Tuesday, October 24th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings per share of $0.51 for the quarter. The consensus estimate for Central Valley Community Bancorp’s current full-year earnings is $2.20 per share.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their target price on Central Valley Community Bancorp from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 17th. Piper Sandler raised their price objective on shares of Central Valley Community Bancorp from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Janney Montgomery Scott raised shares of Central Valley Community Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $20.00 in a research report on Thursday, October 12th. Finally, StockNews.com assumed coverage on shares of Central Valley Community Bancorp in a report on Thursday, October 5th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.33.

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Central Valley Community Bancorp Price Performance

Shares of NASDAQ:CVCY opened at $15.37 on Wednesday. The firm has a market cap of $181.55 million, a price-to-earnings ratio of 6.63 and a beta of 0.81. Central Valley Community Bancorp has a 1 year low of $12.59 and a 1 year high of $25.99. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $14.71 and a 200 day simple moving average of $15.25.

Hedge Funds Weigh In On Central Valley Community Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its stake in Central Valley Community Bancorp by 582.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,762 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,504 shares during the last quarter. UBS Group AG grew its position in shares of Central Valley Community Bancorp by 85.1% in the fourth quarter. UBS Group AG now owns 1,488 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 684 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in shares of Central Valley Community Bancorp by 4,477.6% in the second quarter. BNP Paribas Arbitrage SNC now owns 2,655 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 2,597 shares during the period. Captrust Financial Advisors lifted its position in shares of Central Valley Community Bancorp by 72.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,313 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,390 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new position in shares of Central Valley Community Bancorp during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 50.56% of the company’s stock.

Central Valley Community Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 3.12%. Central Valley Community Bancorp’s payout ratio is currently 20.69%.

Central Valley Community Bancorp Company Profile

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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 demand, savings, and time deposits; certificates of deposit; and non-interest-bearing demand deposits, as well as provides NOW and money market accounts.