CVB Financial (NASDAQ:CVBF) Downgraded by Hovde Group to Market Perform

CVB Financial (NASDAQ:CVBF) was downgraded by stock analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $18.00 price target on the financial services provider’s stock. Hovde Group’s target price indicates a potential upside of 5.26% from the stock’s current price.

Several other research analysts have also issued reports on the company. Wedbush lowered their target price on CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods lowered their target price on CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Finally, StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Hold” and a consensus target price of $20.00.

CVB Financial Stock Up 3.8 %

NASDAQ CVBF opened at $17.10 on Monday. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 10.75 and a beta of 0.46. The business’s fifty day moving average is $17.02 and its 200 day moving average is $17.71.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The company had revenue of $138.52 million for the quarter, compared to the consensus estimate of $134.88 million. On average, research analysts anticipate that CVB Financial will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. acquired 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other CVB Financial news, Director George A. Borba, Jr. acquired 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO David A. Brager acquired 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $16.75 per share, with a total value of $33,500.00. Following the completion of the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 63,601 shares of company stock valued at $1,067,145. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co increased its position in CVB Financial by 6.5% in the 1st quarter. Diversified Trust Co now owns 39,480 shares of the financial services provider’s stock valued at $704,000 after buying an additional 2,394 shares in the last quarter. Vanguard Group Inc. increased its position in CVB Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after buying an additional 176,694 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares during the last quarter. Woodward Diversified Capital LLC acquired a new position in CVB Financial during the 4th quarter valued at about $392,000. Finally, Schroder Investment Management Group boosted its stake in CVB Financial by 12.5% during the 4th quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock valued at $17,425,000 after purchasing an additional 95,970 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.