CVB Financial (CVBF) Upgraded to Sell by BidaskClub

CVB Financial (NASDAQ:CVBF) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut CVB Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Piper Jaffray Companies set a $25.00 price target on CVB Financial and gave the company a “hold” rating in a research note on Monday, July 30th. Hovde Group set a $25.00 price target on CVB Financial and gave the company a “hold” rating in a research note on Monday, July 23rd. Finally, Sandler O’Neill restated a “hold” rating and issued a $24.50 price target on shares of CVB Financial in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. CVB Financial presently has an average rating of “Hold” and a consensus price target of $25.50.

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CVBF opened at $21.11 on Thursday. CVB Financial has a 1-year low of $20.49 and a 1-year high of $25.49. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.46 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.80 and a beta of 1.38.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. CVB Financial had a return on equity of 12.20% and a net margin of 34.66%. The business had revenue of $82.38 million for the quarter, compared to analysts’ expectations of $81.70 million. During the same quarter in the prior year, the business earned $0.26 EPS. As a group, equities analysts expect that CVB Financial will post 1.3 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in CVB Financial by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 17,540 shares of the financial services provider’s stock worth $393,000 after buying an additional 2,406 shares during the period. First Trust Advisors LP increased its position in CVB Financial by 1.8% during the 2nd quarter. First Trust Advisors LP now owns 156,178 shares of the financial services provider’s stock worth $3,502,000 after buying an additional 2,782 shares during the period. California Public Employees Retirement System increased its position in CVB Financial by 2.1% during the 2nd quarter. California Public Employees Retirement System now owns 141,106 shares of the financial services provider’s stock worth $3,164,000 after buying an additional 2,915 shares during the period. Profund Advisors LLC increased its position in CVB Financial by 25.2% during the 1st quarter. Profund Advisors LLC now owns 19,098 shares of the financial services provider’s stock worth $432,000 after buying an additional 3,838 shares during the period. Finally, UBS Group AG increased its position in CVB Financial by 5.8% during the 1st quarter. UBS Group AG now owns 70,136 shares of the financial services provider’s stock worth $1,588,000 after buying an additional 3,860 shares during the period. Hedge funds and other institutional investors own 70.07% 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, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. 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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