CVB Financial (NASDAQ:CVBF) Rating Lowered to Neutral at Janney Montgomery Scott

CVB Financial (NASDAQ:CVBFGet Free Report) was downgraded by stock analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports.

Several other brokerages have also recently issued reports on CVBF. Stephens reiterated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price target on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Wedbush restated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. Finally, Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.00.

Read Our Latest Research Report on CVBF

CVB Financial Trading Down 2.9 %

Shares of NASDAQ:CVBF opened at $16.27 on Wednesday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 10.70 and a beta of 0.47. The company has a 50-day moving average price of $16.88 and a 200-day moving average price of $17.83. CVB Financial has a 12 month low of $11.83 and a 12 month high of $21.77.

CVB Financial (NASDAQ:CVBFGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, research analysts forecast that CVB Financial will post 1.41 EPS for the current fiscal year.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CVBF. Raymond James & Associates grew its stake in CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 854 shares in the last quarter. Covestor Ltd raised its holdings in shares of CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 885 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of CVB Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock valued at $2,062,000 after purchasing an additional 1,299 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of CVB Financial by 1.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Equitable Trust Co. grew its position in shares of CVB Financial by 6.5% in the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after buying an additional 1,705 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

About CVB Financial

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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