CVB Financial (NASDAQ:CVBF) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on CVBF. Zacks Investment Research upgraded shares of CVB Financial from a sell rating to a hold rating in a research note on Wednesday, July 24th. FIG Partners cut shares of CVB Financial from an outperform rating to a market-perform rating in a research note 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 target price for the company. in a research note on Friday, July 19th. Finally, BidaskClub cut shares of CVB Financial from a sell rating to a strong sell rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $24.25.

NASDAQ CVBF traded down $0.32 on Thursday, hitting $21.04. 466,888 shares of the company’s stock traded hands, compared to its average volume of 630,039. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.01. CVB Financial has a 1-year low of $19.21 and a 1-year high of $24.97. The stock’s 50-day moving average price is $21.09. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.55 and a beta of 1.07.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. CVB Financial had a net margin of 37.43% and a return on equity of 10.02%. The business had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $121.72 million. During the same period in the previous year, the business posted $0.32 EPS. As a group, equities research analysts forecast that CVB Financial will post 1.5 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 3rd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, July 2nd. CVB Financial’s dividend payout ratio is currently 58.06%.

In related news, 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 value of $101,308.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction 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 $5,163,161.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,260 shares of company stock valued at $1,305,192. Company insiders own 5.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in CVB Financial by 57.3% during the fourth quarter. Bank of America Corp DE now owns 403,042 shares of the financial services provider’s stock worth $8,154,000 after acquiring an additional 146,887 shares during the period. Norges Bank acquired a new position in CVB Financial during the fourth quarter worth $19,000,000. AlphaCrest Capital Management LLC acquired a new position in CVB Financial during the first quarter worth $709,000. Champlain Investment Partners LLC raised its position in CVB Financial by 1.5% during the first quarter. Champlain Investment Partners LLC now owns 2,229,415 shares of the financial services provider’s stock worth $46,929,000 after acquiring an additional 32,510 shares during the period. Finally, BTIM Corp. raised its position in CVB Financial by 1.0% during the first quarter. BTIM Corp. now owns 679,186 shares of the financial services provider’s stock worth $14,297,000 after acquiring an additional 6,747 shares during the period. Institutional investors own 63.76% of the company’s stock.

About CVB Financial

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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