CVB Financial (NASDAQ:CVBF) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
A number of other equities research analysts have also weighed in on the company. Wedbush restated a “neutral” rating on shares of CVB Financial in a research note on Monday, July 16th. Piper Jaffray Companies set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 30th. Hovde Group set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 23rd. Sandler O’Neill restated a “hold” rating and set a $24.50 price target on shares of CVB Financial in a research note on Friday, July 20th. Finally, Zacks Investment Research upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.10.
Shares of CVB Financial stock opened at $23.84 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.92 and a beta of 1.38. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.02. CVB Financial has a one year low of $20.87 and a one year high of $25.49.
Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of CVB Financial during the second quarter worth about $204,000. Verition Fund Management LLC purchased a new stake in CVB Financial in the first quarter valued at approximately $216,000. OppenheimerFunds Inc. purchased a new stake in CVB Financial in the second quarter valued at approximately $217,000. TradeLink Capital LLC purchased a new stake in CVB Financial in the second quarter valued at approximately $224,000. Finally, Fox Run Management L.L.C. purchased a new stake in CVB Financial in the second quarter valued at approximately $280,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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