Zacks Investment Research upgraded shares of CVB Financial (NASDAQ:CVBF) from a sell rating to a buy rating in a research report sent to investors on Tuesday. They currently have $26.00 target price on the financial services provider’s stock.
According to Zacks, “CVB Financial Corp. is a bank holding company. CVB’s principal business is to serve as a holding company for the Bank, Community, Ventures, and for other banking or banking related subsidiaries which the Company may establish or acquire. Through its network of banking offices, the Bank emphasizes personalized service combined with offering a full range of banking and trust services to businesses, professionals and individuals located in the service areas of its offices. “
Several other brokerages also recently weighed in on CVBF. ValuEngine downgraded shares of CVB Financial from a buy rating to a hold rating in a research note on Tuesday, November 14th. Piper Jaffray Companies restated a hold rating on shares of CVB Financial in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $23.17.
CVB Financial (NASDAQ:CVBF) traded down $0.25 during trading on Tuesday, reaching $23.22. 315,000 shares of the company were exchanged, compared to its average volume of 333,833. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49. The stock has a market capitalization of $2,585.38, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.50.
CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. CVB Financial had a net margin of 35.60% and a return on equity of 10.89%. The company had revenue of $81.78 million during the quarter, compared to the consensus estimate of $81.78 million. During the same period in the previous year, the firm earned $0.23 earnings per share. analysts anticipate that CVB Financial will post 1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Friday, January 5th will be issued a $0.14 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.56 annualized dividend and a yield of 2.41%. CVB Financial’s dividend payout ratio is presently 53.85%.
Large investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL acquired a new stake in shares of CVB Financial during the third quarter worth $670,000. Victory Capital Management Inc. increased its holdings in shares of CVB Financial by 36.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,082 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 2,698 shares during the period. Legal & General Group Plc increased its holdings in shares of CVB Financial by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 195,932 shares of the financial services provider’s stock worth $4,395,000 after acquiring an additional 18,531 shares during the period. Wells Fargo & Company MN increased its holdings in shares of CVB Financial by 9.0% in the 2nd quarter. Wells Fargo & Company MN now owns 131,133 shares of the financial services provider’s stock worth $2,941,000 after acquiring an additional 10,880 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of CVB Financial by 53.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,146 shares of the financial services provider’s stock worth $721,000 after acquiring an additional 11,252 shares during the period. 69.36% of the stock is currently owned by institutional investors.
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CVB Financial Company Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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