StockNews.com initiated coverage on shares of Codorus Valley Bancorp (NASDAQ:CVLY – Free Report) in a research note released on Thursday. The firm issued a hold rating on the financial services provider’s stock.
Separately, Stephens reiterated an overweight rating and set a $22.00 price target on shares of Codorus Valley Bancorp in a research report on Wednesday, December 13th.
Codorus Valley Bancorp Stock Performance
Codorus Valley Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 13th. Investors of record on Tuesday, January 23rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, January 22nd. Codorus Valley Bancorp’s payout ratio is 26.15%.
Hedge Funds Weigh In On Codorus Valley Bancorp
Several institutional investors and hedge funds have recently added to or reduced their stakes in CVLY. Tower Research Capital LLC TRC lifted its stake in Codorus Valley Bancorp by 666.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,915 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,665 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its stake in Codorus Valley Bancorp by 657.8% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,493 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 2,164 shares during the last quarter. California State Teachers Retirement System bought a new position in Codorus Valley Bancorp in the 2nd quarter valued at approximately $63,000. Advisor Group Holdings Inc. lifted its stake in Codorus Valley Bancorp by 51.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,931 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 992 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Codorus Valley Bancorp by 2,162.0% during the second quarter. Wells Fargo & Company MN now owns 3,755 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 3,589 shares during the last quarter. Institutional investors own 50.72% of the company’s stock.
Codorus Valley Bancorp Company Profile
Codorus Valley Bancorp, Inc operates as the bank holding company for the PeoplesBank that provides community banking services in South Central Pennsylvania and Central Maryland. The company accepts demand, money market, time, 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; and consumer loans, including residential mortgage, home equity, and others.
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