CVB Financial (NASDAQ:CVBF) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a report issued on Sunday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $19.92 on Friday. The business has a 50-day moving average of $19.06 and a 200-day moving average of $19.43. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 13.64 and a beta of 0.68. CVB Financial has a fifty-two week low of $16.01 and a fifty-two week high of $23.19.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $128.58 million during the quarter, compared to analysts’ expectations of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. On average, sell-side analysts expect that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 13th. Investors of record on Monday, December 29th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, December 29th. CVB Financial’s dividend payout ratio is 54.79%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 27,094 shares of CVB Financial stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of $18.45 per share, with a total value of $499,884.30. Following the completion of the transaction, the director directly owned 745,782 shares in the company, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of CVB Financial

Hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new position in CVB Financial in the 3rd quarter valued at about $25,000. AlphaQuest LLC acquired a new position in shares of CVB Financial in the first quarter valued at approximately $27,000. Brooklyn Investment Group increased its stake in shares of CVB Financial by 240,700.0% during the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 2,407 shares during the period. Quarry LP lifted its holdings in CVB Financial by 877.3% during the 1st quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in CVB Financial by 394.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 2,790 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.