Central Valley Community Bancorp (CVCY) to Issue $0.06 Quarterly Dividend
Central Valley Community Bancorp (NASDAQ:CVCY) declared a quarterly dividend on Friday, October 20th, Wall Street Journal reports. Stockholders of record on Friday, November 3rd will be paid a dividend of 0.06 per share by the financial services provider on Friday, November 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, November 2nd.
Central Valley Community Bancorp (NASDAQ CVCY) opened at 21.26 on Friday. The stock’s 50 day moving average price is $20.81 and its 200 day moving average price is $21.13. The firm has a market capitalization of $259.61 million, a PE ratio of 17.17 and a beta of 0.23. Central Valley Community Bancorp has a one year low of $13.75 and a one year high of $23.94.
Central Valley Community Bancorp (NASDAQ:CVCY) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. Central Valley Community Bancorp had a net margin of 24.80% and a return on equity of 9.56%. The company had revenue of $16.13 million during the quarter, compared to analysts’ expectations of $16.60 million. Analysts expect that Central Valley Community Bancorp will post $1.29 EPS for the current year.
A number of brokerages have recently weighed in on CVCY. Zacks Investment Research raised shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday. BidaskClub cut shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. ValuEngine raised shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, FIG Partners reissued a “market perform” rating and set a $24.00 price objective (up from $23.00) on shares of Central Valley Community Bancorp in a research note on Sunday, July 23rd.
In other news, insider Lydia E. Shaw sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.98, for a total transaction of $29,970.00. Following the completion of the transaction, the insider now directly owns 18,500 shares of the company’s stock, valued at approximately $369,630. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Doyle sold 6,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $19.56, for a total transaction of $129,096.00. Following the transaction, the director now directly owns 79,000 shares of the company’s stock, valued at $1,545,240. The disclosure for this sale can be found here. Company insiders own 21.57% of the company’s stock.
An institutional investor recently raised its position in Central Valley Community Bancorp stock. State Street Corp lifted its holdings in shares of Central Valley Community Bancorp (NASDAQ:CVCY) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,496 shares of the financial services provider’s stock after purchasing an additional 11,845 shares during the period. State Street Corp owned about 1.08% of Central Valley Community Bancorp worth $2,914,000 as of its most recent SEC filing. Institutional investors and hedge funds own 39.75% of the company’s stock.
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Central Valley Community Bancorp Company Profile
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.
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