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

Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of CVB Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of CVB Financial Corporation in a research note on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 target price on shares of CVB Financial Corporation in a research note on Friday, August 4th. BidaskClub raised shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Wedbush reaffirmed a “neutral” rating and set a $22.00 target price on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. CVB Financial Corporation has an average rating of “Hold” and a consensus price target of $22.60.

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

CVB Financial Corporation (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $81.26 million for the quarter, compared to analysts’ expectations 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. On average, equities research analysts anticipate that CVB Financial Corporation will post $1.06 EPS for the current year.

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In other CVB Financial Corporation news, Director Anna Kan acquired 4,660 shares of CVB Financial Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $21.50 per share, with a total value of $100,190.00. Following the completion of the purchase, the director now directly owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in CVB Financial Corporation by 48,056.5% in the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after buying an additional 12,360,131 shares during the period. Vanguard Group Inc. lifted its holdings in CVB Financial Corporation by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock valued at $219,175,000 after buying an additional 365,996 shares during the period. FMR LLC lifted its holdings in CVB Financial Corporation by 0.6% in the first quarter. FMR LLC now owns 7,865,043 shares of the financial services provider’s stock valued at $173,739,000 after buying an additional 43,133 shares during the period. State Street Corp lifted its holdings in CVB Financial Corporation by 17.8% in the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock valued at $85,508,000 after buying an additional 586,205 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in CVB Financial Corporation by 7.8% in the second quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock valued at $84,759,000 after buying an additional 274,617 shares during the period. 67.33% of the stock is currently owned by institutional investors.

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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