CVB Financial (CVBF) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a research report report published 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. “

CVBF has been the topic of several other research reports. ValuEngine cut CVB Financial from a buy rating to a hold rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reaffirmed a hold rating on shares of CVB Financial in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. CVB Financial presently has a consensus rating of Hold and an average price target of $23.20.

Shares of CVB Financial (NASDAQ:CVBF) opened at $23.89 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2,650.00, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.39 and a beta of 1.50. 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, meeting the consensus estimate of $0.27. The business had revenue of $81.78 million for the quarter, compared to analysts’ expectations of $81.78 million. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. During the same quarter last year, the firm earned $0.23 EPS. equities research analysts forecast that CVB Financial will post 1.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Friday, January 5th will be given 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 dividend yield of 2.34%. CVB Financial’s payout ratio is 53.85%.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in shares of CVB Financial by 188.5% in the 3rd quarter. GSA Capital Partners LLP now owns 30,624 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 20,009 shares in the last quarter. Walthausen & Co. LLC acquired a new stake in shares of CVB Financial in the 3rd quarter worth $7,099,000. California Public Employees Retirement System boosted its position in shares of CVB Financial by 11.7% in the 3rd quarter. California Public Employees Retirement System now owns 131,172 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 13,772 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of CVB Financial in the 3rd quarter worth $243,000. Finally, Epoch Investment Partners Inc. boosted its position in shares of CVB Financial by 0.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 387,136 shares of the financial services provider’s stock worth $9,357,000 after purchasing an additional 2,831 shares in the last quarter. 69.36% of the stock is owned by hedge funds and other institutional investors.

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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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