CVB Financial Corp. Lowered to “Equal Weight” at Evercore Partners (CVBF)
CVB Financial Corp. (NASDAQ:CVBF) was downgraded by Evercore Partners from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $17.50 target price on the stock, up from their previous target price of $16.00. Evercore Partners’ price objective indicates a potential upside of 4.92% from the stock’s previous close.
CVB Financial Corp. (NASDAQ:CVBF) traded up 0.06% during mid-day trading on Tuesday, hitting $16.68. 639,438 shares of the company’s stock traded hands. CVB Financial Corp. has a 1-year low of $10.29 and a 1-year high of $17.48. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $14.10. The company has a market cap of $1.755 billion and a P/E ratio of 18.94.
CVB Financial Corp. (NASDAQ:CVBF) last released its earnings data on Wednesday, October 23rd. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.23. During the same quarter in the prior year, the company posted $0.09 earnings per share. Analysts expect that CVB Financial Corp. will post $0.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of 0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, December 31st.
A number of other analysts have also recently weighed in on CVBF. Analysts at Wunderlich raised their price target on shares of CVB Financial Corp. from $14.00 to $16.00 in a research note to investors on Wednesday, December 4th. They now have a “hold” rating on the stock. Separately, analysts at Zacks downgraded shares of CVB Financial Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 26th. They now have a $16.90 price target on the stock. Finally, analysts at Zacks upgraded shares of CVB Financial Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 28th. They now have a $15.40 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.24.
CVB Financial Corp. (NASDAQ:CVBF) is a bank holding company of Citizens Business Bank (the Bank).
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