Shares of CVB Financial Corp. (NASDAQ:CVBF – Get Rating) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.62 and traded as high as $26.22. CVB Financial shares last traded at $26.18, with a volume of 2,002,736 shares changing hands.
Analyst Ratings Changes
A number of brokerages have commented on CVBF. Wedbush upped their target price on shares of CVB Financial to $26.00 in a report on Monday, July 25th. StockNews.com raised shares of CVB Financial from a "sell" rating to a "hold" rating in a report on Thursday, July 21st.
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CVB Financial Stock Up 0.8 %
The firm has a market capitalization of $3.66 billion, a PE ratio of 18.06 and a beta of 0.37. The stock's fifty day simple moving average is $26.11 and its 200 day simple moving average is $24.62.
CVB Financial (NASDAQ:CVBF – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $136.61 million during the quarter, compared to analyst estimates of $131.40 million. CVB Financial had a net
margin of 40.88% and a return on equity of 9.85%. During the same period in the prior year, the business posted $0.38 earnings per share. On average, analysts predict that CVB Financial Corp. will post 1.65 EPS for the current year.
Hedge Funds Weigh In On CVB Financial
Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in shares of CVB Financial in the second quarter worth approximately $42,000. River Oaks Capital LLC bought a new position in shares of CVB Financial in the first quarter worth approximately $40,000. FMR LLC boosted its position in shares of CVB Financial by 96.0% in the second quarter. FMR LLC now owns 1,756 shares of the financial services provider's stock worth $44,000 after purchasing an additional 860 shares during the period. Covestor Ltd bought a new position in shares of CVB Financial during the fourth quarter worth $57,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of CVB Financial during the second quarter worth $129,000. 72.60% of the stock is currently owned by institutional investors.
CVB Financial Company Profile
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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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