Wall Street Zen Downgrades CVB Financial (NASDAQ:CVBF) to Sell

CVB Financial (NASDAQ:CVBF) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.33.

CVB Financial Stock Up 1.4%

Shares of CVBF stock opened at $20.19 on Friday. The stock’s 50-day moving average price is $19.08 and its 200 day moving average price is $19.44. The stock has a market capitalization of $2.76 billion, a PE ratio of 13.83 and a beta of 0.68. CVB Financial has a 52-week low of $16.01 and a 52-week high of $23.19.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. Analysts expect that CVB Financial will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. bought 27,094 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $18.45 per share, with a total value of $499,884.30. Following the completion of the acquisition, the director owned 745,782 shares in the company, valued at approximately $13,759,677.90. This represents a 3.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently modified their holdings of CVBF. Hsbc Holdings PLC raised its holdings in shares of CVB Financial by 1.5% in the first quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 665 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of CVB Financial by 7.4% during the second quarter. QRG Capital Management Inc. now owns 11,030 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 763 shares during the last quarter. Norges Bank purchased a new stake in CVB Financial during the 2nd quarter worth about $28,320,000. Intech Investment Management LLC raised its stake in CVB Financial by 45.8% in the 1st quarter. Intech Investment Management LLC now owns 98,028 shares of the financial services provider’s stock valued at $1,810,000 after purchasing an additional 30,799 shares during the last quarter. Finally, LPL Financial LLC raised its stake in CVB Financial by 22.1% in the 1st quarter. LPL Financial LLC now owns 74,717 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 13,500 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

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.