CVB Financial (NASDAQ:CVBF) Stock Rating Upgraded by Wall Street Zen

CVB Financial (NASDAQ:CVBF) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Moderate Buy” and an average target price of $24.33.

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.50 on Friday. The company has a market cap of $2.67 billion, a P/E ratio of 13.36 and a beta of 0.68. The business’s 50 day moving average price is $18.95 and its 200-day moving average price is $19.39. CVB Financial has a fifty-two week low of $16.01 and a fifty-two week high of $23.74.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The company had revenue of $128.58 million during the quarter, compared to analyst estimates of $131.10 million. As a group, equities analysts predict that CVB Financial will post 1.41 EPS for the current year.

Insider Buying and Selling

In other news, Director George A. Borba, Jr. purchased 27,094 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $18.45 per share, with a total value of $499,884.30. Following the acquisition, the director directly owned 745,782 shares in the company, valued at approximately $13,759,677.90. The trade was a 3.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anna Kan sold 11,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total value of $223,850.00. Following the completion of the sale, the director owned 31,593 shares in the company, valued at approximately $642,917.55. This represents a 25.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in CVB Financial during the third quarter valued at approximately $25,000. AlphaQuest LLC bought a new position in shares of CVB Financial during the 1st quarter valued at approximately $27,000. Brooklyn Investment Group raised its holdings in CVB Financial by 240,700.0% during the 1st quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock valued at $44,000 after buying an additional 2,407 shares during the period. Quarry LP lifted its position in CVB Financial by 877.3% in the first quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock worth $56,000 after buying an additional 2,702 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in CVB Financial by 394.6% during the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after buying an additional 2,790 shares during the period. Institutional investors own 74.18% of the company’s stock.

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.