CVB Financial Corp. (NASDAQ:CVBF) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $23.33.
A number of analysts have recently weighed in on CVBF shares. Zacks Investment Research upgraded CVB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research report on Friday, July 19th. BidaskClub cut CVB Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th. ValuEngine cut CVB Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, FIG Partners cut CVB Financial from an “outperform” rating to a “market-perform” rating in a research report on Thursday, April 25th.
In related news, CEO Christopher D. Myers sold 4,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.04, for a total value of $101,384.00. Following the sale, the chief executive officer now directly owns 229,557 shares in the company, valued at approximately $5,059,436.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anna Kan sold 4,660 shares of the firm’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 59,260 shares of company stock worth $1,305,192. 5.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of CVB Financial by 57.3% during the 4th quarter. Bank of America Corp DE now owns 403,042 shares of the financial services provider’s stock valued at $8,154,000 after purchasing an additional 146,887 shares during the period. Norges Bank acquired a new position in shares of CVB Financial during the 4th quarter valued at $19,000,000. AlphaCrest Capital Management LLC acquired a new position in shares of CVB Financial during the 1st quarter valued at $709,000. Champlain Investment Partners LLC increased its position in shares of CVB Financial by 1.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,229,415 shares of the financial services provider’s stock valued at $46,929,000 after purchasing an additional 32,510 shares during the period. Finally, BTIM Corp. increased its position in shares of CVB Financial by 1.0% during the 1st quarter. BTIM Corp. now owns 679,186 shares of the financial services provider’s stock valued at $14,297,000 after purchasing an additional 6,747 shares during the period. Hedge funds and other institutional investors own 63.76% of the company’s stock.
Shares of CVB Financial stock traded down $0.32 on Friday, reaching $21.04. 466,888 shares of the company were exchanged, compared to its average volume of 630,039. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.84. The stock has a 50-day moving average price of $21.09. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. CVB Financial has a 1-year low of $19.21 and a 1-year high of $24.97.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $129.26 million for the quarter, compared to analysts’ expectations of $121.72 million. CVB Financial had a return on equity of 10.02% and a net margin of 37.43%. During the same period in the prior year, the firm earned $0.32 EPS. Research analysts forecast that CVB Financial will post 1.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 3rd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.42%. The ex-dividend date was Tuesday, July 2nd. CVB Financial’s dividend payout ratio is currently 58.06%.
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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