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

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Shares of CVB Financial Corp. (NASDAQ:CVBF) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.33.

CVBF has been the topic of several recent research reports. Zacks Investment Research downgraded CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BidaskClub downgraded shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, ValuEngine upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th.

In other news, CEO Christopher D. Myers sold 16,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $21.16, for a total value of $349,140.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc bought a new stake in shares of CVB Financial during the second quarter valued at approximately $32,000. CWM Advisors LLC bought a new position in shares of CVB Financial during the second quarter worth $212,000. Strs Ohio grew its stake in CVB Financial by 142.2% during the second quarter. Strs Ohio now owns 10,900 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 6,400 shares in the last quarter. CIBC Asset Management Inc bought a new stake in CVB Financial in the 3rd quarter valued at $234,000. Finally, Tower Research Capital LLC TRC increased its holdings in CVB Financial by 13,673.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,947 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 12,853 shares during the last quarter. 66.73% of the stock is owned by institutional investors and hedge funds.

NASDAQ CVBF traded up $0.19 during trading hours on Friday, hitting $21.04. 618,479 shares of the company’s stock traded hands, compared to its average volume of 561,278. CVB Financial has a 52 week low of $19.21 and a 52 week high of $23.18. The firm has a market capitalization of $2.99 billion, a P/E ratio of 16.97 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $21.18 and its two-hundred day moving average price is $20.99.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). CVB Financial had a return on equity of 10.45% and a net margin of 38.37%. The company had revenue of $120.10 million during the quarter, compared to the consensus estimate of $122.35 million. During the same period in the prior year, the business posted $0.30 earnings per share. CVB Financial’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts expect that CVB Financial will post 1.46 EPS for the current fiscal year.

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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