Janney Montgomery Scott Downgrades CVB Financial (NASDAQ:CVBF) to Neutral

CVB Financial (NASDAQ:CVBF) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

CVBF has been the subject of several other research reports. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, July 8th. FIG Partners reiterated an “outperform” rating on shares of SmartFinancial in a research note on Thursday, April 25th. Finally, BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.00.

NASDAQ CVBF opened at $20.37 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.45 and a beta of 1.07. The stock’s 50 day moving average price is $21.04. CVB Financial has a 52 week low of $19.21 and a 52 week high of $24.97.



CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same quarter in the previous year, the business posted $0.32 EPS. Analysts anticipate that CVB Financial will post 1.48 EPS for the current year.

In other CVB Financial news, CEO Christopher D. Myers sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $21.79, for a total transaction of $522,960.00. Following the transaction, the chief executive officer now owns 300,157 shares in the company, valued at approximately $6,540,421.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anna Kan sold 4,660 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total transaction of $101,308.40. The disclosure for this sale can be found here. Insiders have sold a total of 147,660 shares of company stock worth $3,228,758 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Ellis Investment Partners LLC acquired a new position in CVB Financial during the 1st quarter valued at approximately $56,000. PNC Financial Services Group Inc. boosted its holdings in CVB Financial by 21.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock worth $69,000 after buying an additional 601 shares in the last quarter. CWM Advisors LLC purchased a new position in CVB Financial during the second quarter valued at $212,000. Everence Capital Management Inc. purchased a new position in CVB Financial during the first quarter valued at $290,000. Finally, Sciencast Management LP purchased a new position in CVB Financial during the first quarter valued at $378,000. Institutional investors and hedge funds own 63.83% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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