CVB Financial (CVBF) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of CVB Financial (NASDAQ:CVBF) from a sell rating to a buy rating in a report released on Tuesday morning. They currently have $26.00 price objective on the financial services provider’s stock.

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. “

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of CVB Financial from a buy rating to a hold rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reiterated a hold rating on shares of CVB Financial in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $23.00.

CVB Financial (CVBF) traded down $0.02 during trading on Tuesday, hitting $23.47. 300,592 shares of the company traded hands, compared to its average volume of 332,950. CVB Financial has a 1-year low of $19.58 and a 1-year high of $25.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2,590.00, a price-to-earnings ratio of 22.57, a PEG ratio of 2.20 and a beta of 1.50.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Shareholders of record on Friday, January 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.39%. CVB Financial’s dividend payout ratio (DPR) is 53.85%.

A number of large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in CVB Financial by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 85 shares in the last quarter. Amalgamated Bank lifted its holdings in CVB Financial by 3.2% in the 2nd quarter. Amalgamated Bank now owns 14,125 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 438 shares in the last quarter. Strs Ohio lifted its holdings in CVB Financial by 12.5% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 500 shares in the last quarter. Citigroup Inc. lifted its holdings in CVB Financial by 1.0% in the 2nd quarter. Citigroup Inc. now owns 77,221 shares of the financial services provider’s stock valued at $1,733,000 after purchasing an additional 787 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in CVB Financial by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 1,107 shares in the last quarter. Institutional investors own 69.36% 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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