CVB Financial (NASDAQ:CVBF) Downgraded by Janney Montgomery Scott to Neutral

Janney Montgomery Scott lowered shares of CVB Financial (NASDAQ:CVBF) from a buy rating to a neutral rating in a research note issued to investors on Friday, BenzingaRatingsTable reports.

A number of other equities analysts have also weighed in on the company. FIG Partners reaffirmed an outperform rating on shares of SmartFinancial in a research report on Thursday, April 25th. BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Finally, Zacks Investment Research raised Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $25.00.

Shares of NASDAQ:CVBF opened at $20.33 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.85 and a quick ratio of 0.85. CVB Financial has a twelve month low of $19.21 and a twelve month high of $24.97. The stock’s 50 day moving average price is $21.02. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. CVB Financial had a return on equity of 10.16% and a net margin of 37.39%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $121.24 million. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that CVB Financial will post 1.48 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 3rd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Tuesday, July 2nd. CVB Financial’s payout ratio is currently 58.06%.

In related news, CEO Christopher D. Myers sold 53,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $21.71, for a total value of $1,150,630.00. Following the completion of the sale, the chief executive officer now directly owns 295,200 shares of the company’s stock, valued at approximately $6,408,792. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher D. Myers sold 50,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $22.05, for a total value of $1,102,500.00. Following the completion of the sale, the chief executive officer now directly owns 234,157 shares of the company’s stock, valued at $5,163,161.85. The disclosure for this sale can be found here. Insiders sold a total of 147,660 shares of company stock valued at $3,228,758 over the last three months. 5.50% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in CVB Financial by 21.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 601 shares during the period. Oregon Public Employees Retirement Fund grew its stake in CVB Financial by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,375 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 700 shares during the period. Mason Street Advisors LLC grew its stake in CVB Financial by 3.1% in the 1st quarter. Mason Street Advisors LLC now owns 32,816 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 1,002 shares during the period. Rhumbline Advisers grew its stake in CVB Financial by 0.4% in the 1st quarter. Rhumbline Advisers now owns 345,764 shares of the financial services provider’s stock valued at $7,278,000 after purchasing an additional 1,434 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its stake in CVB Financial by 6.1% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 26,031 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 1,486 shares during the period. Hedge funds and other institutional investors own 63.83% 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 and financial products and services. 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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