The stock of Central Valley Community Bancorp (NASDAQ:CVCY) gapped down by $0.1 today and has $13.37 target or 12.00% below today’s $15.19 share price. The 6 months technical chart setup indicates high risk for the $170.41 million company. The gap down was reported on Oct, 4 by Barchart.com. If the $13.37 price target is reached, the company will be worth $20.45M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.22% or $0.67 during the last trading session, hitting $15.19. About 24,403 shares traded hands. Central Valley Community Bancorp (NASDAQ:CVCY) has risen 24.61% since March 1, 2016 and is uptrending. It has outperformed by 12.39% the S&P500.
Analysts await Central Valley Community Bancorp (NASDAQ:CVCY) to report earnings on October, 19. They expect $0.25 earnings per share, up 8.70% or $0.02 from last year’s $0.23 per share. CVCY’s profit will be $2.80 million for 15.19 P/E if the $0.25 EPS becomes a reality. After $0.55 actual earnings per share reported by Central Valley Community Bancorp for the previous quarter, Wall Street now forecasts -54.55% negative EPS growth.
Central Valley Community Bancorp (NASDAQ:CVCY) Ratings Coverage
Out of 2 analysts covering Central Valley Community Bancorp (NASDAQ:CVCY), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Central Valley Community Bancorp has been the topic of 3 analyst reports since April 21, 2016 according to StockzIntelligence Inc. Wood upgraded Central Valley Community Bancorp (NASDAQ:CVCY) rating on Thursday, April 21. Wood has “Outperform” rating and $13 price target. The firm earned “Market Perform” rating on Friday, July 22 by Keefe Bruyette & Woods. Wood downgraded Central Valley Community Bancorp (NASDAQ:CVCY) on Friday, July 22 to “Market Perform” rating.
According to Zacks Investment Research, “Central Valley Community Bank is the sole subsidiary of Central Valley Community Bancorp. The Bank operates full-service offices in Clovis, Fresno, Prather, Kerman and Sacramento, plus Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Investment services are also provided by Investment Centers of America.”
Insitutional Activity: The institutional sentiment increased to 4 in 2016 Q2. Its up 2.44, from 1.56 in 2016Q1. The ratio increased, as 3 funds sold all Central Valley Community Bancorp shares owned while 7 reduced positions. 31 funds bought stakes while 9 increased positions. They now own 8.44 million shares or 126.25% more from 3.73 million shares in 2016Q1.
Moreover, Elizabeth Park Advisors has 1.05% invested in Central Valley Community Bancorp (NASDAQ:CVCY) for 176,629 shares. Int Grp Inc holds 5,039 shares or 0% of its portfolio. Blackrock Fund Advisors last reported 0% of its portfolio in the stock. Bnp Paribas Arbitrage Sa holds 0% or 346 shares in its portfolio. Moreover, Dimensional Fund Advisors Limited Partnership has 0% invested in Central Valley Community Bancorp (NASDAQ:CVCY) for 14,600 shares. Axa owns 3,500 shares or 0% of their US portfolio. Acadian Asset Lc last reported 6,066 shares in the company. Lpl Finance Limited Liability Company holds 0% of its portfolio in Central Valley Community Bancorp (NASDAQ:CVCY) for 10,124 shares. Schwab Charles Inv Management Incorporated has 13,500 shares for 0% of their US portfolio. State Bank Of America Corporation De holds 0% or 665 shares in its portfolio. Fmr Limited Co accumulated 0% or 85,100 shares. Vanguard Grp Inc last reported 217,887 shares in the company. Bridgeway Management Inc last reported 0.02% of its portfolio in the stock. North Star Inv holds 200 shares or 0% of its portfolio. Tiaa Cref Inv Lc reported 27,118 shares or 0% of all its holdings.
Insider Transactions: Since June 10, 2016, the stock had 1 insider purchase, and 1 insider sale for $17,484 net activity. $12,940 worth of Central Valley Community Bancorp (NASDAQ:CVCY) shares were bought by Ford James M. WEIRICK JOSEPH B had sold 2,000 shares worth $30,424.
More news for Central Valley Community Bancorp (NASDAQ:CVCY) were recently published by: Thebusinessjournal.com, which released: “Central Valley Community Bank completes Sierra Vista acquisition” on October 03, 2016. Thebusinessjournal.com‘s article titled: “Central Valley Community Bancorp to merge with Sierra Vista Bank” and published on April 29, 2016 is yet another important article.
CVCY Company Profile
Central Valley Community Bancorp, incorporated on February 7, 2000, 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. The Firm 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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