CVB Financial Corp. (NASDAQ:CVBF) Receives $20.67 Consensus Price Target from Brokerages

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the five research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.00.

Several brokerages have commented on CVBF. Wedbush decreased their target price on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. StockNews.com raised CVB Financial to a “sell” rating in a research note on Friday, January 5th. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their price target on CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th.

CVB Financial Stock Performance

Shares of NASDAQ CVBF opened at $17.09 on Thursday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 10.75 and a beta of 0.46. CVB Financial has a one year low of $10.66 and a one year high of $21.77. The company’s fifty day moving average is $17.02 and its two-hundred day moving average is $17.70.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $138.52 million for the quarter, compared to analyst estimates of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. On average, sell-side analysts forecast that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.68%. CVB Financial’s dividend payout ratio (DPR) is 50.31%.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 59,601 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director George A. Borba, Jr. bought 59,601 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David A. Brager acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 63,601 shares of company stock worth $1,067,145. Corporate insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVBF. Goldman Sachs Group Inc. lifted its holdings in shares of CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after acquiring an additional 1,994,369 shares during the period. Norges Bank purchased a new position in shares of CVB Financial during the 4th quarter worth about $29,134,000. American Century Companies Inc. increased its position in CVB Financial by 44.1% during the 3rd quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after purchasing an additional 1,204,090 shares in the last quarter. Principal Financial Group Inc. increased its position in CVB Financial by 56.4% during the 4th quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock worth $58,848,000 after purchasing an additional 1,050,625 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CVB Financial by 16.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

About CVB Financial

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.