CVB Financial (NASDAQ:CVBF) Receives “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of CVB Financial (NASDAQ:CVBF) in a research note released on Thursday,Benzinga reports. Stephens currently has a $25.00 price target on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Piper Sandler lowered their target price 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. Keefe, Bruyette & Woods lifted their price objective on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.60.

CVB Financial Stock Down 0.1 %

Shares of NASDAQ:CVBF opened at $20.66 on Thursday. The company has a market capitalization of $2.89 billion, a P/E ratio of 14.45 and a beta of 0.50. The stock’s fifty day simple moving average is $22.06 and its 200-day simple moving average is $19.73. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is currently 55.56%.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of CVB Financial during the 3rd quarter worth about $8,653,000. Jacobs Asset Management LLC acquired a new position in CVB Financial during the third quarter valued at approximately $4,455,000. Charles Schwab Investment Management Inc. grew its stake in CVB Financial by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after buying an additional 181,769 shares during the period. Barclays PLC increased its position in shares of CVB Financial by 79.5% in the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after acquiring an additional 128,869 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of CVB Financial by 87.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after acquiring an additional 99,554 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

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.