Hovde Group Lowers CVB Financial (NASDAQ:CVBF) to Market Perform

Hovde Group downgraded shares of CVB Financial (NASDAQ:CVBF - Free Report) from an outperform rating to a market perform rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has $18.00 price objective on the financial services provider's stock.

Several other research firms also recently issued reports on CVBF. StockNews.com raised CVB Financial to a sell rating in a research note on Friday, January 5th. Wedbush decreased their target price on shares of CVB Financial from $22.00 to $21.00 and set a neutral rating for the company in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $22.00 to $20.00 and set a market perform rating for the company in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $20.00.

CVB Financial Stock Down 1.0 %

Shares of CVBF stock traded down $0.16 on Monday, reaching $16.47. The company had a trading volume of 797,021 shares, compared to its average volume of 898,451. The stock has a market capitalization of $2.30 billion, a PE ratio of 10.36 and a beta of 0.46. CVB Financial has a one year low of $10.66 and a one year high of $21.77. The business's 50-day moving average is $17.04 and its 200 day moving average is $17.70.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The company had revenue of $138.52 million during the quarter, compared to the consensus estimate of $134.88 million. On average, sell-side analysts forecast that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is 50.31%.

Insider Transactions at CVB Financial

In other news, CFO E Allen Nicholson bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the acquisition, the chief financial officer now directly owns 92,310 shares in the company, valued at $1,548,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director George A. Borba, Jr. acquired 59,601 shares of the company's stock in a transaction on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO E Allen Nicholson bought 2,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $16.77 per share, with a total value of $33,540.00. Following the completion of the transaction, the chief financial officer now owns 92,310 shares in the company, valued at $1,548,038.70. The disclosure for this purchase can be found here. Insiders purchased a total of 63,601 shares of company stock valued at $1,067,145 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVB Financial

Several large investors have recently made changes to their positions in CVBF. Strs Ohio purchased a new stake in shares of CVB Financial during the 4th quarter valued at $36,000. GAMMA Investing LLC purchased a new stake in shares of CVB Financial during the 4th quarter valued at approximately $102,000. Headlands Technologies LLC purchased a new stake in CVB Financial in the 4th quarter worth approximately $122,000. Covestor Ltd lifted its stake in CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider's stock worth $145,000 after purchasing an additional 885 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider's stock worth $174,000 after purchasing an additional 5,038 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other 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.