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

CVB Financial (NASDAQ:CVBFGet Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Separately, Keefe, Bruyette & Woods downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Friday, October 21st.

CVB Financial Trading Down 0.1 %

Shares of NASDAQ:CVBF opened at $25.56 on Wednesday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 16.60 and a beta of 0.44. CVB Financial has a 12 month low of $21.44 and a 12 month high of $29.25. The firm’s 50-day moving average is $26.74 and its 200 day moving average is $26.53.

CVB Financial (NASDAQ:CVBFGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $144.93 million for the quarter, compared to the consensus estimate of $143.30 million. CVB Financial had a net margin of 41.25% and a return on equity of 10.82%. The firm’s revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. As a group, equities analysts forecast that CVB Financial will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, EVP David F. Farnsworth sold 11,553 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $28.51, for a total value of $329,376.03. Following the completion of the sale, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at approximately $992,033.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP David F. Farnsworth sold 3,447 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $28.48, for a total value of $98,170.56. Following the completion of the sale, the executive vice president now owns 34,796 shares of the company’s stock, valued at approximately $990,990.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David F. Farnsworth sold 11,553 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $28.51, for a total transaction of $329,376.03. Following the completion of the sale, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at approximately $992,033.96. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVB Financial

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in shares of CVB Financial by 1,978.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 977 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 930 shares during the period. Nisa Investment Advisors LLC purchased a new stake in shares of CVB Financial in the 2nd quarter worth approximately $42,000. FMR LLC lifted its position in shares of CVB Financial by 96.0% in the 2nd quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 860 shares during the period. Royal Bank of Canada raised its stake in shares of CVB Financial by 277.7% during the 3rd quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of CVB Financial by 73.9% during the 1st quarter. Covestor Ltd now owns 4,609 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 1,959 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

About CVB Financial

(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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