CVB Financial (NASDAQ:CVBF) PT Lowered to $19.00

CVB Financial (NASDAQ:CVBF) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $20.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 14.73% from the company’s previous close.

Several other analysts have also issued reports on the company. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a report on Monday. Wedbush reiterated a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a research note on Thursday. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday. Finally, StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.00.

CVB Financial Trading Up 0.3 %

NASDAQ CVBF traded up $0.05 on Friday, hitting $16.56. 114,577 shares of the stock traded hands, compared to its average volume of 896,664. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77. The company has a market capitalization of $2.31 billion, a P/E ratio of 10.89 and a beta of 0.46. The stock has a 50-day moving average of $17.00 and a 200 day moving average of $17.69.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. As a group, equities research analysts expect that CVB Financial will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David A. Brager purchased 2,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares in the company, valued at $2,559,634.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George A. Borba, Jr. purchased 59,601 shares of the stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The disclosure for this purchase can be found here. Insiders have acquired 63,601 shares of company stock valued at $1,067,145 in the last three months. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVBF. Raymond James & Associates grew its stake in shares of CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after buying an additional 854 shares during the last quarter. Covestor Ltd lifted its holdings in shares of CVB Financial by 11.2% during the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 885 shares during the period. Equitable Trust Co. lifted its holdings in shares of CVB Financial by 6.5% during the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 1,705 shares during the period. Strs Ohio acquired a new position in shares of CVB Financial during the fourth quarter worth $36,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of CVB Financial by 10.1% during the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 1,905 shares during the period. 74.18% of the stock is owned by 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.