CVB Financial Corporation (CVBF) Cut to “Sell” at Zacks Investment Research

CVB Financial Corporation (NASDAQ:CVBF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

A number of other brokerages also recently commented on CVBF. BidaskClub downgraded shares of CVB Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reiterated a “hold” rating on shares of CVB Financial Corporation in a research note on Friday, October 6th. Keefe, Bruyette & Woods set a $23.00 target price on shares of CVB Financial Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 4th. Wedbush reiterated a “neutral” rating and set a $22.00 target price on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Finally, ValuEngine downgraded shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. CVB Financial Corporation currently has an average rating of “Hold” and an average target price of $22.60.

Shares of CVB Financial Corporation (CVBF) traded down 0.63% during mid-day trading on Wednesday, hitting $23.69. The stock had a trading volume of 173,753 shares. The stock’s 50-day moving average is $21.89 and its 200 day moving average is $21.60. CVB Financial Corporation has a 12 month low of $16.32 and a 12 month high of $25.25. The firm has a market cap of $2.61 billion, a PE ratio of 23.55 and a beta of 1.57.

CVB Financial Corporation (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $81.26 million during the quarter, compared to the consensus estimate of $80.10 million. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research analysts predict that CVB Financial Corporation will post $1.06 earnings per share for the current fiscal year.

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In related news, Director Anna Kan acquired 4,660 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $21.50 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in CVB Financial Corporation by 12.5% in the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 500 shares in the last quarter. Cutler Capital Management LLC boosted its stake in CVB Financial Corporation by 10.3% in the second quarter. Cutler Capital Management LLC now owns 6,000 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 558 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in CVB Financial Corporation by 54.5% in the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 2,291 shares in the last quarter. D.A. Davidson & CO. boosted its stake in CVB Financial Corporation by 29.3% in the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Gradient Investments LLC boosted its stake in CVB Financial Corporation by 9.0% in the second quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 67.33% of the company’s stock.

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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