CVB Financial Corporation (CVBF) Upgraded to Buy by ValuEngine

CVB Financial Corporation (CVBF) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of CVB Financial Corporation (NASDAQ:CVBF) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Several other brokerages also recently weighed in on CVBF. Keefe, Bruyette & Woods set a $23.00 price objective on CVB Financial Corporation and gave the stock a hold rating in a research report on Tuesday, July 4th. Zacks Investment Research downgraded CVB Financial Corporation from a buy rating to a hold rating in a research report on Tuesday, July 4th. BidaskClub upgraded CVB Financial Corporation from a sell rating to a hold rating in a research report on Friday, June 30th. Finally, Wedbush restated a neutral rating and set a $22.00 price objective on shares of CVB Financial Corporation in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. CVB Financial Corporation currently has a consensus rating of Hold and an average price target of $22.60.

Shares of CVB Financial Corporation (NASDAQ CVBF) opened at 24.17 on Tuesday. The stock has a 50 day moving average price of $20.91 and a 200-day moving average price of $21.54. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 24.03 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 for the quarter, hitting the consensus estimate of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The business had revenue of $81.26 million during the quarter, compared to the consensus estimate of $80.10 million. During the same period in the prior year, the company earned $0.23 EPS. On average, equities research analysts forecast that CVB Financial Corporation will post $1.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.56 annualized dividend and a dividend yield of 2.32%. CVB Financial Corporation’s dividend payout ratio is currently 56.00%.

In other news, Director Anna Kan bought 4,660 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the transaction, the director now owns 17,660 shares of the company’s stock, valued at $379,690. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of CVBF. BlackRock Inc. raised its position in CVB Financial Corporation by 48,056.5% in the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after purchasing an additional 12,360,131 shares during the last quarter. State Street Corp raised its position in CVB Financial Corporation by 17.8% in the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock valued at $85,508,000 after purchasing an additional 586,205 shares during the last quarter. Vanguard Group Inc. raised its position in CVB Financial Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,405,499 shares of the financial services provider’s stock valued at $207,768,000 after purchasing an additional 498,140 shares during the last quarter. Goldman Sachs Group Inc. raised its position in CVB Financial Corporation by 7.8% in the second quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock valued at $84,759,000 after purchasing an additional 274,617 shares during the last quarter. Finally, Bank of America Corp DE raised its position in CVB Financial Corporation by 46.1% in the first quarter. Bank of America Corp DE now owns 301,748 shares of the financial services provider’s stock valued at $6,666,000 after purchasing an additional 95,226 shares during the last quarter. Hedge funds and other institutional investors own 67.33% of the company’s stock.

About CVB Financial Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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