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Strength Seen in Central Valley Community Bancorp (CWBC): Can Its 28.6% Jump Turn into More Strength?
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Central Valley Community Bancorp (CWBC - Free Report) shares rallied 28.6% in the last trading session to close at $19.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.6% gain over the past four weeks.
Central Valley Community Bancorp closed the merger with Community West Bancshares in an all-stock deal worth $143 million. Central Valley Community Bancorp has adopted the name Community West Bancshares and its NASDAQ ticker symbol CWBC.
The combined company will have nearly $3.5 billion in total assets and 27 branches throughout Central California from Sacramento in the north, throughout the San Joaquin Valley and west to the Coast. Hence, the completion of the merger deal drove the stock higher.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $11.6 million, down 1.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Central Valley Community Bancorp, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CWBC going forward to see if this recent jump can turn into more strength down the road.
Central Valley Community Bancorp is part of the Zacks Banks - West industry. Cathay General (CATY - Free Report) , another stock in the same industry, closed the last trading session 2.4% lower at $36.91. CATY has returned -2.5% in the past month.
For Cathay, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.03. This represents a change of -22% from what the company reported a year ago. Cathay currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Central Valley Community Bancorp (CWBC): Can Its 28.6% Jump Turn into More Strength?
Central Valley Community Bancorp (CWBC - Free Report) shares rallied 28.6% in the last trading session to close at $19.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.6% gain over the past four weeks.
Central Valley Community Bancorp closed the merger with Community West Bancshares in an all-stock deal worth $143 million. Central Valley Community Bancorp has adopted the name Community West Bancshares and its NASDAQ ticker symbol CWBC.
The combined company will have nearly $3.5 billion in total assets and 27 branches throughout Central California from Sacramento in the north, throughout the San Joaquin Valley and west to the Coast. Hence, the completion of the merger deal drove the stock higher.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $11.6 million, down 1.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Central Valley Community Bancorp, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CWBC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Central Valley Community Bancorp is part of the Zacks Banks - West industry. Cathay General (CATY - Free Report) , another stock in the same industry, closed the last trading session 2.4% lower at $36.91. CATY has returned -2.5% in the past month.
For Cathay, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.03. This represents a change of -22% from what the company reported a year ago. Cathay currently has a Zacks Rank of #4 (Sell).