CVB Financial Corp. (NASDAQ:CVBF) Given Average Rating of “Hold” by Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.33.

Several research analysts have recently commented on CVBF shares. BidaskClub downgraded CVB Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 24th. FIG Partners downgraded CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, April 25th. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Friday, July 19th. Finally, Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

In other news, CEO Christopher D. Myers sold 50,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.05, for a total value of $1,102,500.00. Following the completion of the transaction, the chief executive officer now owns 234,157 shares of the company’s stock, valued at approximately $5,163,161.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anna Kan sold 4,660 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total transaction of $101,308.40. The disclosure for this sale can be found here. Insiders sold a total of 70,660 shares of company stock valued at $1,555,168 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of CVB Financial by 21.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock valued at $69,000 after buying an additional 601 shares during the period. CWM Advisors LLC acquired a new position in shares of CVB Financial in the 2nd quarter valued at $212,000. Strs Ohio grew its holdings in shares of CVB Financial by 142.2% in the 2nd quarter. Strs Ohio now owns 10,900 shares of the financial services provider’s stock valued at $229,000 after buying an additional 6,400 shares during the period. Everence Capital Management Inc. acquired a new position in shares of CVB Financial in the 1st quarter valued at $290,000. Finally, Sciencast Management LP acquired a new position in shares of CVB Financial in the 1st quarter valued at $378,000. 63.76% of the stock is owned by institutional investors.

NASDAQ CVBF traded up $0.03 during trading on Friday, reaching $22.04. 10,433 shares of the company traded hands, compared to its average volume of 598,451. The firm has a market capitalization of $3.09 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.84. CVB Financial has a 1-year low of $19.21 and a 1-year high of $24.97. The stock has a 50 day moving average price of $21.09.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $129.26 million for the quarter, compared to the consensus estimate of $121.72 million. CVB Financial had a return on equity of 10.02% and a net margin of 37.43%. During the same period in the previous year, the business earned $0.32 EPS. Equities research analysts forecast that CVB Financial will post 1.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 3rd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Tuesday, July 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 58.06%.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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