Zacks Investment Research lowered shares of CVB Financial (NASDAQ:CVBF) from a hold rating to a sell rating in a research report sent to investors on Monday.

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. “

Several other research firms also recently commented on CVBF. ValuEngine downgraded CVB Financial from a buy rating to a hold rating in a research report on Monday, October 2nd. Piper Jaffray Companies reiterated a hold rating on shares of CVB Financial in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. CVB Financial has a consensus rating of Hold and a consensus price target of $23.20.

CVB Financial (NASDAQ:CVBF) opened at $24.16 on Monday. CVB Financial has a 12-month low of $19.58 and a 12-month high of $25.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $2,661.39, a P/E ratio of 23.23, a PEG ratio of 2.39 and a beta of 1.50.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. The company had revenue of $81.78 million for the quarter, compared to the consensus estimate of $81.78 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. sell-side analysts expect that CVB Financial will post 1.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Friday, January 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, January 4th. CVB Financial’s dividend payout ratio (DPR) is currently 53.85%.

Several hedge funds have recently modified their holdings of CVBF. Strs Ohio lifted its stake in CVB Financial by 12.5% during the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 500 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in CVB Financial by 54.5% during the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 2,291 shares during the last quarter. D.A. Davidson & CO. lifted its stake in CVB Financial by 29.3% during the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,600 shares during the last quarter. Victory Capital Management Inc. lifted its stake in CVB Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in CVB Financial by 1.0% during the second quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.

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About CVB Financial

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.

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