Analysts Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $21.80

CVB Financial Corp. (NASDAQ:CVBF) has earned an average rating of “Hold” from the six analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $21.80.

CVBF has been the topic of several recent research reports. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVBF. Natixis Advisors LLC boosted its stake in CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after buying an additional 545 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in CVB Financial by 5.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after buying an additional 748 shares during the period. GAMMA Investing LLC boosted its position in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after buying an additional 780 shares during the period. AlphaMark Advisors LLC grew its stake in shares of CVB Financial by 4.7% during the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock valued at $342,000 after buying an additional 859 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after buying an additional 918 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $20.69 on Friday. The company has a market capitalization of $2.89 billion, a PE ratio of 14.47 and a beta of 0.50. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58. The business has a fifty day moving average price of $22.10 and a two-hundred day moving average price of $19.72.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. Sell-side analysts anticipate that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is 55.94%.

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.