CVB Financial (CVBF) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other research firms also recently commented on CVBF. Zacks Investment Research downgraded CVB Financial from a buy rating to a hold rating in a research note on Monday, December 4th. ValuEngine downgraded CVB Financial from a buy rating to a hold rating in a research note on Monday, October 2nd. Piper Jaffray Companies reaffirmed a hold rating on shares of CVB Financial in a research note on Friday, October 6th. Finally, Sandler O’Neill reaffirmed a hold rating and issued a $24.00 price target on shares of CVB Financial in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $23.17.

CVB Financial (CVBF) traded down $0.03 during mid-day trading on Tuesday, reaching $24.30. The company had a trading volume of 480,898 shares, compared to its average volume of 357,784. The firm has a market capitalization of $2,680.11, a P/E ratio of 23.37, a PEG ratio of 2.10 and a beta of 1.50. CVB Financial has a fifty-two week low of $19.58 and a fifty-two week high of $25.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.69.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business had revenue of $81.78 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.23 earnings per share. analysts anticipate that CVB Financial will post 1.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Shareholders of record on Friday, January 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, January 4th. CVB Financial’s payout ratio is 53.85%.

A number of hedge funds and other institutional investors have recently modified their holdings of CVBF. Schwab Charles Investment Management Inc. raised its stake in CVB Financial by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 517,790 shares of the financial services provider’s stock worth $11,615,000 after acquiring an additional 13,862 shares in the last quarter. Legal & General Group Plc raised its stake in CVB Financial by 10.4% during the second quarter. Legal & General Group Plc now owns 195,932 shares of the financial services provider’s stock worth $4,395,000 after acquiring an additional 18,531 shares in the last quarter. Victory Capital Management Inc. raised its stake in CVB Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,107 shares in the last quarter. Principal Financial Group Inc. raised its stake in CVB Financial by 2.5% during the second quarter. Principal Financial Group Inc. now owns 798,079 shares of the financial services provider’s stock worth $17,901,000 after acquiring an additional 19,537 shares in the last quarter. Finally, Swiss National Bank raised its stake in CVB Financial by 2.4% during the second quarter. Swiss National Bank now owns 172,600 shares of the financial services provider’s stock worth $3,871,000 after acquiring an additional 4,000 shares in the last quarter. 69.36% of the stock is owned by hedge funds and other institutional investors.

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About CVB Financial

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.

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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