Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $24.25.
A number of research firms recently weighed in on CVBF. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 target price on shares of CVB Financial in a research report on Thursday, March 1st. Zacks Investment Research downgraded CVB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Hovde Group set a $25.00 target price on CVB Financial and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Finally, Sandler O’Neill restated a “hold” rating and issued a $24.00 target price on shares of CVB Financial in a research report on Thursday, January 4th.
In other CVB Financial news, CEO Christopher D. Myers sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $23.85, for a total value of $477,000.00. Following the completion of the sale, the chief executive officer now owns 327,336 shares in the company, valued at $7,806,963.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CVBF. BlackRock Inc. lifted its position in CVB Financial by 2.7% in the fourth quarter. BlackRock Inc. now owns 13,116,215 shares of the financial services provider’s stock valued at $309,019,000 after purchasing an additional 350,786 shares during the last quarter. Walthausen & Co. LLC bought a new stake in CVB Financial in the third quarter valued at approximately $7,099,000. Goldman Sachs Group Inc. lifted its position in CVB Financial by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,047,104 shares of the financial services provider’s stock valued at $95,350,000 after purchasing an additional 137,543 shares during the last quarter. Deutsche Bank AG lifted its position in CVB Financial by 96.2% in the fourth quarter. Deutsche Bank AG now owns 257,529 shares of the financial services provider’s stock valued at $6,066,000 after purchasing an additional 126,257 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in CVB Financial by 224.0% in the fourth quarter. Arizona State Retirement System now owns 172,175 shares of the financial services provider’s stock valued at $4,056,000 after purchasing an additional 119,039 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Shares of CVB Financial (NASDAQ:CVBF) opened at $24.13 on Wednesday. The firm has a market capitalization of $2,660.00, a P/E ratio of 22.55, a P/E/G ratio of 1.98 and a beta of 1.40. CVB Financial has a 12-month low of $19.58 and a 12-month high of $25.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.70 and a quick ratio of 0.70.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $83.86 million during the quarter, compared to the consensus estimate of $82.00 million. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. During the same quarter in the previous year, the company posted $0.25 EPS. analysts expect that CVB Financial will post 1.29 earnings per share for the current fiscal year.
CVB Financial Company Profile
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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