Codorus Valley Bancorp, Inc. (NASDAQ: CVLY – Get a rating) benefited from a sharp drop in short-term interest rates during August. As of August 31, there was short interest totaling 12,500 shares, down 68.1% from the total of 39,200 shares as of August 15. Based on an average daily trading volume of 22,000 shares, the short-term interest rate ratio is currently 0.6 days. Approximately 0.2% of the company’s shares are sold short.
Wall Street analysts predict growth
Several equity research analysts have recently commented on CVLY shares. TheStreet downgraded shares of Codorus Valley Bancorp from a “b” rating to a “c+” rating in a Monday, August 29 report. StockNews.com began covering shares of Codorus Valley Bancorp in a report on Friday, August 12. They issued a “hold” rating for the company.
Price performance of Codorus Valley Bancorp
Shares of Codorus Valley Bancorp opened at $19.97 on Wednesday. Codorus Valley Bancorp has a 52-week low of $19.43 and a 52-week high of $24.48. The company has a market capitalization of $190.53 million, a price-earnings ratio of 15.48 and a beta of 0.51. The company has a fifty-day simple moving average of $21.23 and a 200-day simple moving average of $22.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a leverage ratio of 0.24.
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Codorus Valley Bancorp (NASDAQ:CVLY – Get a rating) last released its results on Thursday, July 28. The financial services provider reported earnings per share (EPS) of $0.20 for the quarter. Codorus Valley Bancorp had a net margin of 14.06% and a return on equity of 6.63%. The company had revenue of $21.65 million in the quarter.
Codorus Valley Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 9. Shareholders of record on Tuesday, July 26 received a dividend of $0.15 per share. The ex-dividend date was Monday, July 25. This represents an annualized dividend of $0.60 and a dividend yield of 3.00%. Codorus Valley Bancorp’s payout ratio is 46.51%.
Insider Trading at Codorus Valley Bancorp
Separately, director Scott V. Fainor purchased 1,650 shares in a trade that took place on Monday, August 22. The stock was purchased at an average price of $20.35 per share, for a total transaction of $33,577.50. Following the purchase, the director now directly owns 4,900 shares of the company, valued at $99,715. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. In related news, SVP Stephen M. Altland sold 2,391 shares of the company in a trade on Thursday, June 16. The shares were sold at an average price of $22.50, for a total value of $53,797.50. Following completion of the transaction, the Senior Vice President now directly owns 17,795 shares of the company, valued at approximately $400,387.50. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, director Scott V. Fainor purchased 1,650 shares of the company in a transaction that took place on Monday, August 22. The shares were purchased at an average price of $20.35 per share, with a total value of $33,577.50. Following the completion of the purchase, the director now owns 4,900 shares of the company, valued at $99,715. Disclosure of this purchase can be found here. In the past 90 days, insiders bought 5,507 shares of the company worth $116,560 and sold 4,578 shares worth $101,047. Insiders hold 4.09% of the shares of the company.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their holdings in the company. Hazlett Burt & Watson Inc. acquired a new stock position in Codorus Valley Bancorp during Q1 valued at approximately $117,000. Salzhauer Michael increased his position in Codorus Valley Bancorp by 23.8% in the first quarter. Salzhauer Michael now owns 29,602 shares of the financial services provider valued at $651,000 after buying an additional 5,700 shares in the last quarter. Petiole USA ltd acquired a new position in Codorus Valley Bancorp in the fourth quarter valued at approximately $3,399,000. Financial Counselors Inc. acquired a new position in Codorus Valley Bancorp in the first quarter worth approximately $677,000. Finally, Dimensional Fund Advisors LP increased its position in Codorus Valley Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 351,289 shares of the financial services provider valued at $7,588,000 after buying 2,396 additional shares in the last quarter. Institutional investors and hedge funds own 53.43% of the company’s shares.
About Codorus Valley Bancorp
Codorus Valley Bancorp, Inc operates as a bank holding company for PeoplesBank which provides community banking services. The company accepts demand, money market, term and savings deposits, as well as certificates of deposit. It also offers commercial loans, such as builder and developer, commercial and residential real estate investor, hotel/motel, wholesale and retail, agriculture, manufacturing and other loans; consume loans including residential mortgages, home equity and others.
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