CVB Financial's (CVBF) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• CVB Financial's stock rating has been reaffirmed as "hold (c)" by Weiss Ratings, reflecting a cautious outlook from analysts.
• Piper Sandler recently increased their price target for CVB Financial from $24.00 to $26.00, indicating a more optimistic stance on the stock's performance.
• Insider trading activity includes Director George A. Borba, Jr. purchasing over 53,000 shares, while Director Anna Kan sold 11,000 shares, highlighting mixed sentiment among company insiders.

CVB Financial (NASDAQ:CVBF - Get Free Report)'s stock had its "hold (c)" rating reiterated by research analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Piper Sandler boosted their price target on CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods decreased their price objective on CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, CVB Financial has an average rating of "Hold" and an average target price of $23.25.

CVB Financial Trading Up 2.5%

CVBF stock traded up $0.46 during trading on Tuesday, reaching $19.02. 160,033 shares of the stock were exchanged, compared to its average volume of 761,012. CVB Financial has a twelve month low of $16.01 and a twelve month high of $24.58. The company has a market capitalization of $2.62 billion, a P/E ratio of 13.12 and a beta of 0.67. The stock has a 50 day simple moving average of $19.55 and a 200-day simple moving average of $19.20.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%.The firm had revenue of $126.35 million for the quarter, compared to analyst estimates of $127.95 million. During the same period in the previous year, the company posted $0.36 earnings per share. Equities analysts predict that CVB Financial will post 1.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director George A. Borba, Jr. purchased 53,567 shares of CVB Financial stock in a transaction dated Monday, August 4th. The shares were acquired at an average cost of $18.67 per share, for a total transaction of $1,000,095.89. Following the transaction, the director directly owned 718,688 shares of the company's stock, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anna Kan sold 11,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total value of $223,850.00. Following the completion of the sale, the director owned 31,593 shares of the company's stock, valued at $642,917.55. This represents a 25.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Institutional Trading of CVB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC acquired a new stake in shares of CVB Financial in the 1st quarter valued at approximately $27,000. Brooklyn Investment Group raised its holdings in CVB Financial by 240,700.0% in the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider's stock worth $44,000 after purchasing an additional 2,407 shares during the period. Quarry LP boosted its position in shares of CVB Financial by 877.3% during the first quarter. Quarry LP now owns 3,010 shares of the financial services provider's stock worth $56,000 after purchasing an additional 2,702 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of CVB Financial by 58.8% in the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after buying an additional 1,655 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in shares of CVB Financial in the 2nd quarter valued at $103,000. 74.18% of the stock is owned by institutional investors.

CVB Financial Company Profile

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.

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