CVB Financial (CVBF) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a research report released on Tuesday morning.

A number of other equities analysts have also recently commented on the stock. Sandler O’Neill reaffirmed a hold rating and set a $24.00 price objective on shares of CVB Financial in a research report on Thursday, January 4th. Zacks Investment Research raised shares of CVB Financial from a sell rating to a buy rating and set a $26.00 price objective for the company in a research report on Tuesday, January 2nd. ValuEngine cut shares of CVB Financial from a buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, Piper Jaffray Companies reaffirmed a hold rating on shares of CVB Financial in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. CVB Financial presently has an average rating of Hold and an average target price of $23.17.

CVB Financial (NASDAQ:CVBF) traded down $0.03 during mid-day trading on Tuesday, reaching $24.30. 480,898 shares of the company’s stock were exchanged, compared to its average volume of 357,784. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.69. CVB Financial has a 1 year low of $19.58 and a 1 year high of $25.49. The company has a market capitalization of $2,680.11, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.10 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 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.27. CVB Financial had a net margin of 35.60% and a return on equity of 10.89%. The firm had revenue of $81.78 million during the quarter, compared to analysts’ expectations of $81.78 million. During the same period in the previous year, the business posted $0.23 earnings per share. research analysts expect that CVB Financial will post 1.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Friday, January 5th will be given a $0.14 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.30%. CVB Financial’s payout ratio is presently 53.85%.

Several institutional investors have recently made changes to their positions in CVBF. Schwab Charles Investment Management Inc. boosted its position in shares of CVB Financial by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 517,790 shares of the financial services provider’s stock valued at $11,615,000 after acquiring an additional 13,862 shares during the period. Legal & General Group Plc boosted its position in shares of CVB Financial by 10.4% in the second quarter. Legal & General Group Plc now owns 195,932 shares of the financial services provider’s stock valued at $4,395,000 after acquiring an additional 18,531 shares during the period. Victory Capital Management Inc. boosted its position in shares of CVB Financial by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 1,107 shares during the period. Principal Financial Group Inc. boosted its position in shares of CVB Financial by 2.5% in the second quarter. Principal Financial Group Inc. now owns 798,079 shares of the financial services provider’s stock valued at $17,901,000 after acquiring an additional 19,537 shares during the period. Finally, Swiss National Bank boosted its position in shares of CVB Financial by 2.4% in the second quarter. Swiss National Bank now owns 172,600 shares of the financial services provider’s stock valued at $3,871,000 after acquiring an additional 4,000 shares during the period. 69.36% of the stock is owned by institutional investors.

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About CVB Financial

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.

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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