CVB Financial (NASDAQ:CVBF) Given “Neutral” Rating at Wedbush

CVB Financial (NASDAQ:CVBF)‘s stock had its “neutral” rating reiterated by analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $19.00 price target on the financial services provider’s stock. Wedbush’s price objective would suggest a potential upside of 11.18% from the company’s current price.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods dropped their price target on CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Monday. Finally, StockNews.com upgraded CVB Financial to a “sell” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.50.

CVB Financial Price Performance

CVBF opened at $17.09 on Thursday. The business has a 50 day moving average price of $17.02 and a two-hundred day moving average price of $17.70. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 10.75 and a beta of 0.46. CVB Financial has a 1-year low of $10.66 and a 1-year high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The company had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities analysts expect that CVB Financial will post 1.43 EPS for the current fiscal year.

Insider Activity at CVB Financial

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

Hedge Funds Weigh In On CVB Financial

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of CVB Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after buying an additional 176,694 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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. American Century Companies Inc. increased its position in shares of CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after purchasing an additional 1,204,090 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVB Financial by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock worth $76,412,000 after buying an additional 190,343 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.