UPDATE: Fig Partners Upgrades CVB Financial Corp. to Outperform on Improved Return Potential

In a report published Tuesday, Fig Partners upgraded CVB Financial Corp.

to Outperform and $12.25 price target remains unchanged. Fig Partners reported that, “We are upgrading our rating on CVBF-CVBF Financial to “Outperform” due to the improved return potential since our last report in mid-January. Our price target of $12.25 is unchanged. It is equivalent to 13.2x forward EPS and 166% of forward tangible book value. These multiples are improvements from current trading, but consistent with median multiples in the last two years.” CVB Financial Corp's shares closed at $10.52 on Monday.