CVB Financial (CVBF) Lifted to “Hold” at BidaskClub

CVB Financial (NASDAQ:CVBF) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other research analysts have also issued reports on CVBF. ValuEngine upgraded shares of CVB Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies restated a “hold” rating on shares of CVB Financial in a research report on Friday, October 6th. Zacks Investment Research lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Sandler O’Neill restated a “hold” rating and set a $24.00 target price on shares of CVB Financial in a research report on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.17.

CVB Financial (NASDAQ:CVBF) traded up $0.49 during trading on Friday, reaching $24.42. 348,657 shares of the company’s stock traded hands, compared to its average volume of 310,771. The company has a market cap of $2,690.03, a PE ratio of 23.48, a P/E/G ratio of 2.11 and a beta of 1.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.69. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. CVB Financial had a net margin of 35.60% and a return on equity of 10.89%. The firm had revenue of $81.78 million for the quarter, compared to analyst estimates of $81.78 million. During the same quarter in the prior year, the business posted $0.23 EPS. equities analysts forecast that CVB Financial will post 1.06 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Vanguard Group Inc. boosted its position in shares of CVB Financial by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock worth $219,175,000 after acquiring an additional 365,996 shares in the last quarter. Walthausen & Co. LLC acquired a new stake in shares of CVB Financial during the 3rd quarter worth approximately $7,099,000. Goldman Sachs Group Inc. boosted its position in shares of CVB Financial by 7.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock worth $84,759,000 after acquiring an additional 274,617 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of CVB Financial by 78.0% during the 3rd quarter. New York State Common Retirement Fund now owns 194,700 shares of the financial services provider’s stock worth $4,706,000 after acquiring an additional 85,300 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of CVB Financial by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,361,525 shares of the financial services provider’s stock worth $52,969,000 after acquiring an additional 76,345 shares in the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.

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About CVB Financial

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.

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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