Sterne Agee Initiates Coverage Of CVBF

Sterne Agee has initiated coverage of CVB Financial Corporation CVBF with a Neutral Rating. According to the report, “Although the independent minded Chairman will likely ensure the company's independence in the near-term, we believe that the large insider ownership (approximately 16% of shares outstanding) and aging board of directors could lead to an eventual sale.” CVBF has a $10 Price Target and closed yesterday at $9.53 a share.