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

Key Points

• Wall Street Zen upgraded CVB Financial from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with four buy ratings and one hold rating.
• Analysts’ average price target is $26.25, above the stock’s recent $23.25 opening price; individual targets range from $25.00 to $28.00.
• CVB Financial slightly missed quarterly expectations, reporting $0.29 EPS versus $0.30 expected and revenue of $179.43 million versus $184.62 million expected. Its COO sold 40,000 shares, while a director purchased 25,187 shares.

CVB Financial (NASDAQ:CVBF - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued reports about the company. Weiss Ratings raised CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Raymond James Financial raised CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a report on Wednesday, July 1st. Stephens upgraded CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 price target for the company in a research note on Thursday, August 6th. DA Davidson increased their price target on CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Piper Sandler lifted their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $26.25.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $23.25 on Friday. CVB Financial has a one year low of $17.94 and a one year high of $23.36. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 16.03 and a beta of 0.65. The company has a 50-day simple moving average of $22.24 and a 200-day simple moving average of $20.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to analysts' expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period in the prior year, the business earned $0.36 EPS. On average, analysts predict that CVB Financial will post 1.72 EPS for the current year.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, COO David C. Harvey sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the transaction, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George A. Borba, Jr. bought 25,187 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $19.85 per share, with a total value of $499,961.95. Following the completion of the purchase, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. This represents a 3.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd boosted its position in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider's stock worth $37,000 after purchasing an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of CVB Financial during the 4th quarter worth $42,000. Larson Financial Group LLC increased its holdings in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,791 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 695 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CVB Financial in the second quarter valued at about $77,000. Hedge funds and other institutional investors own 74.18% of the company's stock.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company's core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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