CVB Financial Corporation (CVBF) Receives “Hold” Rating from Piper Jaffray Companies

Piper Jaffray Companies reissued their hold rating on shares of CVB Financial Corporation (NASDAQ:CVBF) in a research report report published on Friday.

CVBF has been the subject of several other research reports. BidaskClub downgraded shares of CVB Financial Corporation from a hold rating to a sell rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $23.00 price target on shares of CVB Financial Corporation in a research note on Friday, August 4th. Zacks Investment Research raised shares of CVB Financial Corporation from a hold rating to a buy rating and set a $24.00 price target for the company in a research note on Monday, July 24th. ValuEngine raised shares of CVB Financial Corporation from a hold rating to a buy rating in a research note on Tuesday, September 26th. Finally, Wedbush reaffirmed a neutral rating and set a $22.00 price target on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. CVB Financial Corporation has a consensus rating of Hold and a consensus price target of $22.60.

CVB Financial Corporation (NASDAQ CVBF) traded down 0.04% on Friday, reaching $23.71. 320,596 shares of the company traded hands. The company has a market capitalization of $2.61 billion, a PE ratio of 23.57 and a beta of 1.57. The stock has a 50-day moving average of $21.70 and a 200 day moving average of $21.56. CVB Financial Corporation has a 52-week low of $16.32 and a 52-week high of $25.25.

CVB Financial Corporation (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $81.26 million during the quarter, compared to the consensus estimate of $80.10 million. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities analysts forecast that CVB Financial Corporation will post $1.06 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, October 3rd. CVB Financial Corporation’s payout ratio is currently 56.00%.

In other CVB Financial Corporation news, Director Anna Kan purchased 4,660 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $21.50 per share, with a total value of $100,190.00. Following the completion of the purchase, the director now owns 17,660 shares of the company’s stock, valued at $379,690. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.00% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CVBF. BlackRock Inc. raised its stake in shares of CVB Financial Corporation by 48,056.5% during the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after acquiring an additional 12,360,131 shares during the last quarter. State Street Corp raised its stake in shares of CVB Financial Corporation by 17.8% during the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock valued at $85,508,000 after acquiring an additional 586,205 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CVB Financial Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,405,499 shares of the financial services provider’s stock valued at $207,768,000 after acquiring an additional 498,140 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CVB Financial Corporation by 7.8% during the second quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock valued at $84,759,000 after acquiring an additional 274,617 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of CVB Financial Corporation by 46.1% during the first quarter. Bank of America Corp DE now owns 301,748 shares of the financial services provider’s stock valued at $6,666,000 after acquiring an additional 95,226 shares during the last quarter. 67.33% of the stock is owned by hedge funds and other institutional investors.

About CVB Financial Corporation

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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