CVB Financial Corp. (NASDAQ:CVBF) Receives Average Rating of “Hold” from Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.20.

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens decreased their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVBF. Capital Research Global Investors bought a new stake in shares of CVB Financial during the 4th quarter valued at about $94,382,000. Massachusetts Financial Services Co. MA bought a new stake in shares of CVB Financial during the 4th quarter valued at about $31,064,000. Norges Bank bought a new stake in shares of CVB Financial during the 4th quarter valued at about $27,724,000. Victory Capital Management Inc. boosted its position in shares of CVB Financial by 210.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock valued at $31,858,000 after purchasing an additional 1,009,146 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of CVB Financial during the 3rd quarter valued at about $8,653,000. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Trading Down 0.4 %

Shares of NASDAQ CVBF opened at $20.28 on Wednesday. The firm has a market cap of $2.83 billion, a P/E ratio of 14.08 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’s 50 day moving average is $21.18 and its 200-day moving average is $19.96.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data 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 return on equity of 9.35% and a net margin of 29.32%. Analysts forecast that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.94%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s payout ratio is presently 55.56%.

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.