CVB Financial (NASDAQ:CVBF) Downgraded to “Sell” at StockNews.com

CVB Financial (NASDAQ:CVBF – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

CVB Financial Price Performance

CVBF opened at $18.09 on Tuesday. The stock’s 50 day simple moving average is $24.27 and its 200 day simple moving average is $25.96. The stock has a market cap of $2.52 billion, a P/E ratio of 10.90 and a beta of 0.41. CVB Financial has a 1-year low of $16.99 and a 1-year high of $29.25.

CVB Financial (NASDAQ:CVBF – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $149.86 million for the quarter, compared to analyst estimates of $147.82 million. CVB Financial had a return on equity of 11.94% and a net margin of 41.69%. The firm’s revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. Research analysts expect that CVB Financial will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY grew its stake in CVB Financial by 5.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,448 shares of the financial services provider’s stock worth $218,000 after buying an additional 424 shares during the last quarter. LPL Financial LLC lifted its holdings in CVB Financial by 0.7% in the second quarter. LPL Financial LLC now owns 65,429 shares of the financial services provider’s stock valued at $1,623,000 after buying an additional 446 shares during the period. Ameritas Investment Partners Inc. raised its holdings in CVB Financial by 4.8% in the first quarter. Ameritas Investment Partners Inc. now owns 10,626 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 490 shares during the period. State of Alaska Department of Revenue increased its position in shares of CVB Financial by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 91,511 shares of the financial services provider’s stock worth $2,356,000 after acquiring an additional 498 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of CVB Financial by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,287 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 660 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

About CVB Financial

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CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.