Brokerages expect Central Valley Community Bancorp (NASDAQ:CVCY) to announce sales of $16.60 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Central Valley Community Bancorp’s earnings, with the lowest sales estimate coming in at $15.90 million and the highest estimate coming in at $17.30 million. Central Valley Community Bancorp reported sales of $13.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 18th.

According to Zacks, analysts expect that Central Valley Community Bancorp will report full-year sales of $16.60 million for the current financial year, with estimates ranging from $66.50 million to $70.20 million. For the next financial year, analysts anticipate that the company will post sales of $77.25 million per share, with estimates ranging from $73.50 million to $81.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Central Valley Community Bancorp.

Central Valley Community Bancorp (NASDAQ:CVCY) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.10. Central Valley Community Bancorp had a return on equity of 8.94% and a net margin of 23.78%. The company had revenue of $17.88 million for the quarter, compared to the consensus estimate of $15.85 million.

A number of equities analysts have commented on CVCY shares. ValuEngine raised shares of Central Valley Community Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Central Valley Community Bancorp from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research note on Friday, July 21st. FIG Partners reissued a “market perform” rating and issued a $24.00 price target (up previously from $23.00) on shares of Central Valley Community Bancorp in a research note on Sunday, July 23rd. Finally, BidaskClub cut shares of Central Valley Community Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th.

Central Valley Community Bancorp (NASDAQ CVCY) opened at 20.55 on Thursday. Central Valley Community Bancorp has a 1-year low of $13.75 and a 1-year high of $23.94. The stock has a 50 day moving average of $20.00 and a 200-day moving average of $20.87. The company has a market cap of $250.94 million, a PE ratio of 16.60 and a beta of 0.19.

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In other Central Valley Community Bancorp news, Director Daniel J. Doyle sold 6,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $19.56, for a total value of $129,096.00. Following the completion of the transaction, the director now owns 79,000 shares of the company’s stock, valued at approximately $1,545,240. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Lydia E. Shaw sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was 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 disclosure for this sale can be found here. 21.57% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Central Valley Community Bancorp by 37.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,140 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 2,770 shares in the last quarter. State Street Corp boosted its stake in shares of Central Valley Community Bancorp by 9.9% in the 2nd quarter. State Street Corp now owns 131,496 shares of the financial services provider’s stock valued at $2,914,000 after purchasing an additional 11,845 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Central Valley Community Bancorp by 3.9% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 51,063 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 1,900 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Central Valley Community Bancorp in the 2nd quarter valued at $279,000. Finally, OxFORD Asset Management LLP boosted its stake in shares of Central Valley Community Bancorp by 41.4% in the 2nd quarter. OxFORD Asset Management LLP now owns 20,539 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 6,014 shares in the last quarter. 43.92% of the stock is owned by institutional investors.

About Central Valley Community Bancorp

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

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