CVB Financial (NASDAQ:CVBF) Rating Increased to Buy at Janney Montgomery Scott

CVB Financial (NASDAQ:CVBF – Get Rating) was upgraded by research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Thursday, The Fly reports.

Several other equities analysts have also recently issued reports on CVBF. DA Davidson reduced their price target on shares of CVB Financial from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 13th. Keefe, Bruyette & Woods reduced their price target on shares of CVB Financial from $30.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, May 12th. Finally, TheStreet cut shares of CVB Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.00.

CVB Financial Trading Up 2.3 %

CVBF stock opened at $12.60 on Thursday. The firm’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $21.57. CVB Financial has a 12-month low of $10.66 and a 12-month high of $29.25. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 7.12 and a beta of 0.36.

CVB Financial (NASDAQ:CVBF – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). CVB Financial had a net margin of 41.85% and a return on equity of 12.78%. The firm had revenue of $138.93 million during the quarter, compared to analysts’ expectations of $143.35 million. During the same quarter in the previous year, the firm posted $0.31 EPS. CVB Financial’s revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that CVB Financial will post 1.6 EPS for the current year.

Institutional Investors Weigh In On CVB Financial

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. lifted its stake in shares of CVB Financial by 20.6% in the first quarter. Citigroup Inc. now owns 121,451 shares of the financial services provider’s stock worth $2,818,000 after buying an additional 20,745 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of CVB Financial in the first quarter worth approximately $422,000. Bank of Montreal Can lifted its stake in shares of CVB Financial by 5.6% in the first quarter. Bank of Montreal Can now owns 40,228 shares of the financial services provider’s stock worth $942,000 after buying an additional 2,135 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of CVB Financial by 63.5% in the first quarter. MetLife Investment Management LLC now owns 72,516 shares of the financial services provider’s stock worth $1,683,000 after buying an additional 28,159 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of CVB Financial by 3.2% in the first quarter. Rhumbline Advisers now owns 417,911 shares of the financial services provider’s stock worth $9,700,000 after buying an additional 12,818 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

CVB Financial Company Profile

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CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.