CVB Financial (CVBF) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of CVB Financial (NASDAQ:CVBF) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “CVB Financial Corp. is a bank holding company. CVB’s principal business is to serve as a holding company for the Bank, Community, Ventures, and for other banking or banking related subsidiaries which the Company may establish or acquire. Through its network of banking offices, the Bank emphasizes personalized service combined with offering a full range of banking and trust services to businesses, professionals and individuals located in the service areas of its offices. “

A number of other research analysts have also commented on the company. Piper Jaffray Companies reiterated a hold rating and set a $23.00 price target on shares of CVB Financial in a report on Friday, September 1st. ValuEngine lowered CVB Financial from a buy rating to a hold rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $23.20.

Shares of CVB Financial (CVBF) traded up $0.29 during trading on Monday, reaching $24.82. The company’s stock had a trading volume of 425,000 shares, compared to its average volume of 378,606. The company has a market capitalization of $2,702.14, a PE ratio of 23.59, a P/E/G ratio of 2.43 and a beta of 1.50. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.02. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $81.78 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. analysts expect that CVB Financial will post 1.06 EPS for the current year.

Several hedge funds have recently modified their holdings of CVBF. Rhumbline Advisers raised its stake in shares of CVB Financial by 2.2% in the second quarter. Rhumbline Advisers now owns 231,194 shares of the financial services provider’s stock valued at $5,186,000 after purchasing an additional 5,023 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of CVB Financial by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock valued at $52,860,000 after purchasing an additional 63,017 shares in the last quarter. Legal & General Group Plc raised its stake in shares of CVB Financial by 10.4% in the second quarter. Legal & General Group Plc now owns 195,932 shares of the financial services provider’s stock valued at $4,395,000 after purchasing an additional 18,531 shares in the last quarter. Arizona State Retirement System raised its stake in shares of CVB Financial by 1.7% in the second quarter. Arizona State Retirement System now owns 53,436 shares of the financial services provider’s stock valued at $1,199,000 after purchasing an additional 900 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of CVB Financial by 1.1% in the second quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 69.37% of the company’s stock.

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CVB Financial Company Profile

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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