Zacks Investment Research upgraded shares of CVB Financial (NASDAQ:CVBF) from a sell rating to a buy rating in a research note issued to investors on Tuesday, January 2nd. Zacks Investment Research currently has $26.00 price objective 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 equities analysts also recently weighed in on CVBF. ValuEngine upgraded CVB Financial from a hold rating to a buy rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reiterated a hold rating on shares of CVB Financial in a research report on Friday, October 6th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $23.17.
Shares of CVB Financial (NASDAQ:CVBF) traded up $0.09 on Tuesday, hitting $23.72. The company had a trading volume of 313,765 shares, compared to its average volume of 362,358. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.02. CVB Financial has a one year low of $19.58 and a one year high of $25.49. The company has a market capitalization of $2,603.00, a price-to-earnings ratio of 24.97, a P/E/G ratio of 2.04 and a beta of 1.50.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $83.86 million for the quarter, compared to the consensus estimate of $82.00 million. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. During the same period in the previous year, the business earned $0.25 earnings per share. research analysts anticipate that CVB Financial will post 1.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Stockholders of record on Friday, January 5th were given a $0.14 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.36%. CVB Financial’s payout ratio is 58.95%.
Several institutional investors have recently made changes to their positions in CVBF. Bank of Montreal Can lifted its position in shares of CVB Financial by 1.0% in the second quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 85 shares in the last quarter. Strs Ohio lifted its position in shares of CVB Financial by 12.5% in the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after buying an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. lifted 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 worth $11,615,000 after buying an additional 13,862 shares in the last quarter. Legal & General Group Plc lifted 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 worth $4,395,000 after buying an additional 18,531 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of CVB Financial by 53.9% in the second quarter. BNP Paribas Arbitrage SA now owns 32,146 shares of the financial services provider’s stock worth $721,000 after buying an additional 11,252 shares in the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.
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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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