CVB Financial Corporation (NASDAQ:CVBF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “CVB Financial Corp. is a bank holding company. CVB’s principal business is to serve as a holding company for the Bank, Community, Ventures, and for other banking or banking related subsidiaries which the Company may establish or acquire. Through its network of banking offices, the Bank emphasizes personalized service combined with offering a full range of banking and trust services to businesses, professionals and individuals located in the service areas of its offices. “

CVBF has been the topic of a number of other research reports. Piper Jaffray Companies reiterated a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, September 1st. BidaskClub cut CVB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, August 4th. Wedbush reiterated a “neutral” rating and set a $22.00 price objective on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Finally, Hovde Group upgraded CVB Financial Corporation from an “underperform” rating to a “market perform” rating and set a $21.00 price objective on the stock in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. CVB Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $21.83.

CVB Financial Corporation (NASDAQ CVBF) opened at 20.26 on Tuesday. The stock has a 50 day moving average of $21.11 and a 200-day moving average of $21.73. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 20.14 and a beta of 1.53. CVB Financial Corporation has a 52-week low of $16.32 and a 52-week high of $24.63.

CVB Financial Corporation (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The company had revenue of $81.26 million for the quarter, compared to analysts’ expectations of $80.10 million. During the same quarter in the prior year, the business posted $0.23 EPS. On average, analysts forecast that CVB Financial Corporation will post $1.06 EPS for the current year.

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In related news, Director Anna Kan acquired 4,660 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the purchase, the director now directly owns 17,660 shares in the company, valued at approximately $379,690. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio raised its stake in CVB Financial Corporation by 12.5% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 500 shares during the period. Cutler Capital Management LLC raised its stake in CVB Financial Corporation by 10.3% in the 2nd quarter. Cutler Capital Management LLC now owns 6,000 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 558 shares during the period. Riverhead Capital Management LLC raised its stake in CVB Financial Corporation by 54.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 2,291 shares during the period. D.A. Davidson & CO. raised its stake in CVB Financial Corporation by 29.3% in the 2nd quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,600 shares during the period. Finally, Gradient Investments LLC raised its stake in CVB Financial Corporation by 9.0% in the 2nd quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 67.59% of the company’s stock.

CVB Financial Corporation Company Profile

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

Analyst Recommendations for CVB Financial Corporation (NASDAQ:CVBF)

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