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UPDATE: Keefe, Bruyette & Woods Initiates Coverage On Central Valley Community Bancorp On Good Long-Term Outlook

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In a report published Tuesday, Keefe, Bruyette & Woods analyst David Gong initiated coverage on Central Valley Community Bancorp (NASDAQ: CVCY) with a Market Perform rating and $13.00 price target.

In the report, Keefe, Bruyette & Woods noted, “We are initiating coverage of Central Valley Community Bancorp (Nasdaq: CVCY) with a $13.00 price target and Market Perform rating. Our price target implies 9% potential upside plus a 2% dividend yield. We are constructive on CVCY on a long-term basis, but because of a lack of near-term earnings growth and low trading liquidity in the shares, we prefer to remain on the sidelines on this name over a 12-month investment horizon. Our price target and recommendation presume operating independence by CVCY and factor in organic growth only.”

Central Valley Community Bancorp closed on Monday at $11.95.

Latest Ratings for CVCY

DateFirmActionFromTo
Apr 2020DA DavidsonUpgradesNeutralBuy
Jan 2020Raymond JamesDowngradesOutperformerMarket Perform
Sep 2019Sandler O'NeillDowngradesBuyHold

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Posted-In: David Gong Keefe Bruyette & WoodsAnalyst Color Initiation Analyst Ratings

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