Keefe Bruyette & Woods Downgrades Central Valley Community Bancorp to Market Perform

Brokerage firm Keefe Bruyette & Woods Downgrades its rating on Central Valley Community Bancorp(NASDAQ:CVCY). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Keefe Bruyette & Woods was issued on Jul 22, 2016.

Central Valley Community Bancorp (CVCY) shares turned negative on Thursdays trading session with the shares closing down -0.1 points or -0.65% at a volume of 41,842. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.3. The peak price level was also seen at $15.3 while the days lowest was $15.16. Finally the shares closed at $15.2. The 52-week high of the shares is $16.31 while the 52-week low is $9.45. According to the latest information available, the market cap of the company is $168 M.

Central Valley Community Bancorp(CVCY) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $13.72M. Analysts had an estimated revenue of $11.60M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.37.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, James M Ford (CEO) purchased 1,000 shares at $12.94 per share price.Also, On Feb 24, 2016, David A Kinross (EXECUTIVE VICE PRESIDENT) sold 8,375 shares at $12.00 per share price.On Nov 4, 2015, Sidney B Cox (director) sold 60 shares at $11.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Central Valley Community Bancorp is a bank holding company which operates through its wholly owned 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. The Company serves 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 their surrounding areas through the Bank. The Bank conducts a commercial banking business which includes accepting demand savings and time deposits and making commercial real estate and consumer loans. It also provides domestic and international wire transfer. All real estate related transactions are conducted and processed through the Real Estate Division including interim construction loans for single family residences and commercial buildings.

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