CVB Financial Corporation (CVBF) Upgraded at ValuEngine
ValuEngine upgraded shares of CVB Financial Corporation (NASDAQ:CVBF) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.
A number of other research analysts have also commented on the company. Zacks Investment Research raised CVB Financial Corporation from a sell rating to a hold rating in a report on Tuesday, September 19th. Piper Jaffray Companies reissued a hold rating and set a $23.00 price target on shares of CVB Financial Corporation in a report on Friday, September 1st. Keefe, Bruyette & Woods reissued a hold rating and set a $23.00 price target on shares of CVB Financial Corporation in a report on Friday, August 4th. Finally, BidaskClub lowered CVB Financial Corporation from a sell rating to a strong sell rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $22.60.
Shares of CVB Financial Corporation (CVBF) traded up 1.17% during midday trading on Tuesday, hitting $24.13. 122,132 shares of the company’s stock traded hands. The stock has a market cap of $2.66 billion, a P/E ratio of 23.99 and a beta of 1.53. The company has a 50 day moving average of $20.91 and a 200 day moving average of $21.54. CVB Financial Corporation has a 52 week low of $16.32 and a 52 week high of $24.63.
CVB Financial Corporation (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $81.26 million for the quarter, compared to analyst estimates of $80.10 million. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same period last year, the company earned $0.23 earnings per share. On average, equities analysts forecast that CVB Financial Corporation will post $1.06 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, October 3rd. CVB Financial Corporation’s dividend payout ratio (DPR) is 56.00%.
In other news, Director Anna Kan bought 4,660 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $21.50 per share, with a total value of $100,190.00. Following the completion of the purchase, the director now directly owns 17,660 shares of the company’s stock, valued at approximately $379,690. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in CVB Financial Corporation by 1.0% during the second quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock valued at $185,000 after buying an additional 85 shares in the last quarter. Gamble Jones Investment Counsel boosted its stake in CVB Financial Corporation by 0.6% during the second quarter. Gamble Jones Investment Counsel now owns 53,660 shares of the financial services provider’s stock valued at $1,204,000 after buying an additional 300 shares in the last quarter. Aperio Group LLC boosted its stake in CVB Financial Corporation by 1.1% during the second quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock valued at $647,000 after buying an additional 328 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in CVB Financial Corporation by 1.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 22,980 shares of the financial services provider’s stock valued at $508,000 after buying an additional 410 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in CVB Financial Corporation by 3.2% during the second quarter. Amalgamated Bank now owns 14,125 shares of the financial services provider’s stock valued at $317,000 after buying an additional 438 shares in the last quarter. 67.33% of the stock is owned by institutional investors and hedge funds.
CVB Financial Corporation 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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