CVB Financial (NASDAQ:CVBF) Downgraded by Hovde Group to Market Perform

Hovde Group lowered shares of CVB Financial (NASDAQ:CVBF) from an outperform rating to a market perform rating in a research report report published on Monday, Marketbeat.com reports. They currently have $18.00 price objective on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on CVBF. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $22.00 to $20.00 and set a market perform rating for the company in a research note on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a sell rating in a research report on Friday, January 5th. Finally, Wedbush reduced their price objective on CVB Financial from $22.00 to $21.00 and set a neutral rating on the stock in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, CVB Financial presently has an average rating of Hold and an average price target of $20.00.

CVB Financial Trading Down 1.0 %

NASDAQ CVBF opened at $16.47 on Monday. The stock’s 50 day moving average is $17.01 and its two-hundred day moving average is $17.70. CVB Financial has a 1-year low of $10.66 and a 1-year high of $21.77. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.36 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The company had revenue of $138.52 million during the quarter, compared to analyst estimates of $134.88 million. On average, analysts predict that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. CVB Financial’s payout ratio is presently 50.31%.

Insiders Place Their Bets

In related news, CEO David A. Brager purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $16.75 per share, with a total value of $33,500.00. Following the purchase, the chief executive officer now directly owns 152,814 shares in the company, valued at approximately $2,559,634.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George A. Borba, Jr. acquired 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Brager bought 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the purchase, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 63,601 shares of company stock valued at $1,067,145. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates raised its stake in CVB Financial by 2.5% during the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after buying an additional 854 shares during the period. Covestor Ltd increased its holdings in shares of CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares in the last quarter. Equitable Trust Co. increased its holdings in shares of CVB Financial by 6.5% in the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 1,705 shares in the last quarter. Strs Ohio acquired a new stake in shares of CVB Financial during the fourth quarter worth about $36,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of CVB Financial by 10.1% during the 3rd quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 1,905 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

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.