CVB Financial (NASDAQ:CVBF) Lowered to Sell Rating by Wall Street Zen

CVB Financial (NASDAQ:CVBF) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

CVB Financial Price Performance

Shares of CVBF stock opened at $19.92 on Friday. The stock’s 50-day moving average is $19.06 and its 200 day moving average is $19.42. CVB Financial has a 1-year low of $16.01 and a 1-year high of $23.19. The company has a market cap of $2.73 billion, a P/E ratio of 13.64 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. On average, analysts anticipate that CVB Financial will post 1.41 EPS for the current year.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. acquired 27,094 shares of CVB Financial stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $18.45 per share, with a total value of $499,884.30. Following the completion of the acquisition, the director directly owned 745,782 shares of the company’s stock, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVB Financial

A number of large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of CVB Financial in the second quarter worth $28,320,000. Clifford Capital Partners LLC lifted its position in CVB Financial by 3,800.6% during the 3rd quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after acquiring an additional 648,229 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CVB Financial by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock valued at $124,752,000 after purchasing an additional 400,670 shares during the last quarter. Nuveen LLC bought a new position in shares of CVB Financial in the first quarter worth about $6,932,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of CVB Financial during the 2nd quarter worth about $5,636,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.