CVB Financial (NASDAQ:CVBF) Upgraded by StockNews.com to Hold

CVB Financial (NASDAQ:CVBFGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Separately, Zacks Investment Research lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research report on Monday, April 11th.

Shares of NASDAQ CVBF traded up $0.05 during mid-day trading on Monday, reaching $23.99. 905,269 shares of the company’s stock traded hands, compared to its average volume of 975,751. The stock has a market cap of $3.40 billion, a P/E ratio of 17.01 and a beta of 0.40. The business has a 50-day simple moving average of $23.35 and a 200 day simple moving average of $22.04. CVB Financial has a 1-year low of $18.72 and a 1-year high of $24.37.

CVB Financial (NASDAQ:CVBFGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $120.00 million. CVB Financial had a net margin of 40.95% and a return on equity of 9.20%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. As a group, sell-side analysts anticipate that CVB Financial will post 1.43 EPS for the current year.

In other news, CAO Francene Lapoint sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $23.39, for a total value of $116,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CVBF. River Oaks Capital LLC bought a new position in CVB Financial in the 1st quarter worth $40,000. Covestor Ltd bought a new position in shares of CVB Financial in the 4th quarter worth about $57,000. Point72 Hong Kong Ltd increased its stake in shares of CVB Financial by 108.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,718 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 1,935 shares in the last quarter. US Asset Management LLC bought a new position in shares of CVB Financial in the 3rd quarter worth about $112,000. Finally, Fieldpoint Private Securities LLC increased its stake in shares of CVB Financial by 10,290.0% in the 4th quarter. Fieldpoint Private Securities LLC now owns 6,234 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 6,174 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

CVB Financial Company Profile (Get Rating)

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.

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