CVB Financial (NASDAQ:CVBF) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of CVB Financial (NASDAQ:CVBF) from a buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

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. “

Shares of NASDAQ:CVBF opened at $22.06 on Monday. The company has a market cap of $3.00 billion, a P/E ratio of 14.71 and a beta of 0.54. CVB Financial has a 12 month low of $15.57 and a 12 month high of $25.00. The firm’s 50-day moving average price is $21.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.77 and a quick ratio of 0.77.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Tuesday, April 20th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. The company had revenue of $117.15 million for the quarter, compared to the consensus estimate of $114.87 million. CVB Financial had a net margin of 42.25% and a return on equity of 10.19%. During the same period in the prior year, the firm posted $0.27 EPS. As a group, analysts predict that CVB Financial will post 1.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st were given a $0.18 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $0.72 annualized dividend and a yield of 3.26%. CVB Financial’s dividend payout ratio (DPR) is 55.38%.

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd boosted its position in CVB Financial by 495.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,792 shares of the financial services provider’s stock valued at $40,000 after buying an additional 1,491 shares during the period. Toronto Dominion Bank purchased a new stake in CVB Financial during the fourth quarter valued at approximately $39,000. Veriti Management LLC purchased a new stake in CVB Financial during the fourth quarter valued at approximately $71,000. Captrust Financial Advisors lifted its position in CVB Financial by 1,646.7% during the first quarter. Captrust Financial Advisors now owns 4,454 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 4,199 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in CVB Financial by 121.0% during the first quarter. Quantbot Technologies LP now owns 4,677 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 2,561 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

About CVB Financial

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. The company 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.

See Also: Sell-Side Analysts

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