CVB Financial Corp. (CVBF) is Downgraded by Hovde Group to Underperform, Price Target at $19

CVB Financial Corp. (CVBF) was Downgraded by Hovde Group to ” Underperform” and the brokerage firm has set the Price Target at $19. Earlier the firm had a rating of “Market Perform ” on the company shares. Hovde Group advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on CVB Financial Corp.. Hovde Group Downgraded CVB Financial Corp. on Nov 21, 2016 to ” Underperform”, Price Target of the shares are set at $19.

On the company’s financial health, CVB Financial Corp. reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $0.24.Analysts expectations of $ 75.73.During the same quarter in the previous year, the company posted $0.26 EPS.

CVB Financial Corp. opened for trading at $20.84 and hit $21.415 on the upside on Monday, eventually ending the session at $21.35, with a gain of 2.94% or 0.61 points. The heightened volatility saw the trading volume jump to 6,98,495 shares. Company has a market cap of $2,309 M.

In a different news, on Nov 18, 2016, Christopher D Myers (President & CEO) sold 25,000 shares at $21.03 per share price. According to the SEC, on Nov 17, 2016, Robert Jacoby (director) sold 25,000 shares at $21.01 per share price. On Nov 15, 2016, David C Harvey (EVP Chief Operations Officer) sold 15,000 shares at $20.69 per share price, according to the Form-4 filing with the securities and exchange commission.

CVB Financial Corp. is a bank holding company. The Company serves as a holding company for Citizens Business Bank (the Bank). The Bank operates through segments: Business Financial and Commercial Banking Centers (Centers) and Treasury. These Centers are the focal points for customer sales and services. All administrative and other smaller operating departments are combined into the Other segment. The Treasury Department’s primary focus is managing the Bank’s investments liquidity and interest rate risk. The Company’s remaining operating segments which include construction lending dairy and livestock and agribusiness lending leasing CitizensTrust and centralized functions form part of the Other segment. As of December 31 2014 the Company had $7.38 billion in total consolidated assets $3.76 billion in net loans $5.6 billion in deposits $563.6 million in customer repurchase agreements and $199.5 million in Federal Home Loan Bank advances.

CVB Financial Corp.

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