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

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. “

CVBF has been the topic of several other research reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, September 1st. BidaskClub downgraded CVB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, August 4th. Finally, Wedbush reiterated a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. CVB Financial Corporation has an average rating of “Hold” and an average price target of $21.83.

Shares of CVB Financial Corporation (NASDAQ:CVBF) traded up 0.51% during trading on Tuesday, hitting $21.66. The stock had a trading volume of 317,340 shares. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 21.53 and a beta of 1.53. The company’s 50 day moving average price is $20.90 and its 200 day moving average price is $21.55. 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 posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The business had revenue of $81.26 million for the quarter, compared to the consensus estimate of $80.10 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Analysts predict that CVB Financial Corporation will post $1.06 earnings per share for the current year.

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In other CVB Financial Corporation news, Director Anna Kan bought 4,660 shares of the stock in a transaction on Thursday, August 3rd. The shares were acquired at an average price of $21.50 per share, with a total value of $100,190.00. Following the acquisition, 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 SEC, which is available through this link. Insiders own 7.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of CVBF. Strs Ohio raised its holdings in CVB Financial Corporation by 12.5% during the 2nd 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 during the period. Cutler Capital Management LLC raised its holdings in CVB Financial Corporation by 10.3% during the 2nd 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 during the period. Riverhead Capital Management LLC raised its holdings in CVB Financial Corporation by 54.5% during the 2nd 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 during the period. D.A. Davidson & CO. raised its holdings in CVB Financial Corporation by 29.3% during the 2nd 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 during the period. Finally, Gradient Investments LLC raised its holdings in CVB Financial Corporation by 9.0% during the 2nd 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 during the period. 67.33% of the stock is currently owned by institutional investors and hedge funds.

About CVB Financial Corporation

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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Analyst Recommendations for CVB Financial Corporation (NASDAQ:CVBF)

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