Zacks Investment Research cut shares of CVB Financial (NASDAQ:CVBF) from a buy rating to a hold rating in a research report report published on Tuesday.
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. “
CVBF has been the subject of several other research reports. Sandler O’Neill restated a hold rating and issued a $24.00 price objective on shares of CVB Financial in a research report on Thursday, January 4th. ValuEngine cut shares of CVB Financial from a buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, BidaskClub cut shares of CVB Financial from a hold rating to a sell rating in a research report on Tuesday, January 9th. Eight equities research analysts have rated the stock with a hold rating, The stock has an average rating of Hold and a consensus target price of $23.17.
CVB Financial (CVBF) opened at $22.71 on Tuesday. CVB Financial has a one year low of $19.58 and a one year high of $25.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2,490.18, a P/E ratio of 21.12, a PEG ratio of 1.87 and a beta of 1.43.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. CVB Financial had a net margin of 31.70% and a return on equity of 11.06%. The company had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $82.00 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. sell-side analysts forecast that CVB Financial will post 1.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Friday, January 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, January 4th. CVB Financial’s dividend payout ratio (DPR) is presently 58.95%.
Hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL bought a new position in CVB Financial in the 3rd quarter worth approximately $670,000. Victory Capital Management Inc. grew its holdings in CVB Financial by 36.5% during 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. California Public Employees Retirement System grew its holdings in CVB Financial by 11.7% during the 3rd quarter. California Public Employees Retirement System now owns 131,172 shares of the financial services provider’s stock worth $3,170,000 after acquiring an additional 13,772 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in CVB Financial by 7.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 557,745 shares of the financial services provider’s stock worth $13,481,000 after acquiring an additional 39,955 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in CVB Financial by 9.0% during 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. Hedge funds and other institutional investors own 69.19% of the company’s stock.
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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.
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