CVB Financial (CVBF) Rating Lowered to Hold at ValuEngine

CVB Financial (NASDAQ:CVBF) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, November 14th.

CVBF has been the subject of several other reports. Piper Jaffray Companies reissued a “hold” rating and set a $23.00 target price on shares of CVB Financial in a research note on Friday, September 1st. Zacks Investment Research cut CVB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 price objective on shares of CVB Financial in a research report on Friday, August 4th. Finally, BidaskClub cut CVB Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.20.

CVB Financial (CVBF) traded down $0.06 during mid-day trading on Tuesday, hitting $24.53. The company had a trading volume of 408,437 shares, compared to its average volume of 277,824. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $2,702.15, a P/E ratio of 23.59, a PEG ratio of 2.42 and a beta of 1.50. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.48.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. The firm had revenue of $81.78 million for the quarter, compared to the consensus estimate of $81.78 million. During the same quarter in the previous year, the business earned $0.23 EPS. sell-side analysts expect that CVB Financial will post 1.06 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of CVBF. OppenheimerFunds Inc. purchased a new position in shares of CVB Financial during the 1st quarter worth approximately $253,000. Wellington Management Group LLP acquired a new stake in shares of CVB Financial in the 1st quarter worth approximately $747,000. Teachers Advisors LLC grew its holdings in shares of CVB Financial by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 188,727 shares of the financial services provider’s stock worth $4,169,000 after acquiring an additional 5,214 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of CVB Financial by 7.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 503,928 shares of the financial services provider’s stock worth $11,132,000 after acquiring an additional 33,746 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of CVB Financial by 46.1% in the 1st quarter. Bank of America Corp DE now owns 301,748 shares of the financial services provider’s stock worth $6,666,000 after acquiring an additional 95,226 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

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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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