CVB Financial Corp. (NASDAQ:CVBF) has received an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.38.
CVBF has been the subject of several recent analyst reports. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Zacks Investment Research upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, FIG Partners cut CVB Financial from an “outperform” rating to a “market-perform” rating in a research note on Thursday, April 25th.
Shares of NASDAQ CVBF traded down $0.08 during mid-day trading on Friday, hitting $21.24. 331,500 shares of the stock traded hands, compared to its average volume of 435,163. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01. CVB Financial has a 52 week low of $19.21 and a 52 week high of $24.97. The firm has a market capitalization of $2.97 billion, a PE ratio of 17.13, a P/E/G ratio of 1.51 and a beta of 1.14.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. CVB Financial had a return on equity of 10.16% and a net margin of 37.39%. The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $121.24 million. During the same period in the previous year, the company posted $0.32 earnings per share. On average, research analysts anticipate that CVB Financial will post 1.48 earnings per share for the current year.
In related news, CEO Christopher D. Myers sold 16,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $21.96, for a total transaction of $351,360.00. Following the completion of the sale, the chief executive officer now owns 284,157 shares in the company, valued at $6,240,087.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anna Kan sold 4,660 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total value of $101,308.40. The disclosure for this sale can be found here. Insiders sold 147,660 shares of company stock valued at $3,228,758 in the last 90 days. Company insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVBF. Toronto Dominion Bank bought a new position in shares of CVB Financial in the fourth quarter worth about $35,000. Oregon Public Employees Retirement Fund bought a new position in shares of CVB Financial in the fourth quarter worth about $39,000. Ellis Investment Partners LLC bought a new position in shares of CVB Financial in the first quarter worth about $56,000. Ameritas Investment Corp bought a new position in shares of CVB Financial in the first quarter worth about $56,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of CVB Financial by 21.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 601 shares during the period. 63.83% of the stock is owned by hedge funds and other institutional investors.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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