Wall Street Zen Upgrades CVB Financial (NASDAQ:CVBF) to “Hold”

CVB Financial (NASDAQ:CVBF) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on CVBF. DA Davidson boosted their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective on the stock in a report on Thursday, August 6th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Wednesday, July 1st. Piper Sandler increased their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

CVB Financial Stock Performance

Shares of CVBF opened at $23.25 on Friday. CVB Financial has a 52-week low of $17.94 and a 52-week high of $23.36. The stock’s 50-day simple moving average is $22.24 and its 200 day simple moving average is $20.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 16.03 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The firm had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. During the same period last year, the company posted $0.36 EPS. Research analysts forecast that CVB Financial will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brien Raymond V. O. III acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $22.77 per share, with a total value of $455,400.00. Following the completion of the purchase, the director directly owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This represents a 30.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David C. Harvey sold 40,000 shares of CVB Financial stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total value of $917,600.00. Following the transaction, the chief operating officer directly owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in CVB Financial by 2.1% during the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock worth $472,000 after buying an additional 521 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of CVB Financial by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider’s stock worth $1,330,000 after acquiring an additional 561 shares during the period. CWM LLC increased its stake in shares of CVB Financial by 6.3% in the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 620 shares during the period. Bolthouse Investments LLC raised its holdings in shares of CVB Financial by 1.1% during the fourth quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 637 shares during the last quarter. Finally, Savant Capital LLC lifted its position in CVB Financial by 6.1% during the fourth quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 653 shares during the period. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.