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 report released on Thursday morning, Benzinga reports. The brokerage currently has a $20.00 target price on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com raised CVB Financial to a sell rating in a research note on Friday, January 5th. Hovde Group downgraded CVB Financial from an outperform rating to a market perform rating and set a $18.00 price target for the company. in a research note on Monday. Wedbush reaffirmed a neutral rating and set a $19.00 price target on shares of CVB Financial in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their price target on CVB Financial from $22.00 to $20.00 and set a market perform rating for the company in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, CVB Financial has a consensus rating of Hold and a consensus price target of $19.25.

CVB Financial Trading Down 3.4 %

Shares of CVB Financial stock opened at $16.51 on Thursday. The stock has a 50-day moving average price of $17.00 and a 200 day moving average price of $17.69. The company has a market cap of $2.31 billion, a P/E ratio of 10.86 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, equities analysts forecast that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s payout ratio is 52.63%.

Insider Activity at CVB Financial

In related news, CEO David A. Brager acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.75 per share, with a total value of $33,500.00. Following the purchase, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David A. Brager acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.75 per share, with a total value of $33,500.00. Following the purchase, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George A. Borba, Jr. acquired 59,601 shares of the business’s stock in a transaction that occurred 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 purchase, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. 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.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co grew its holdings in CVB Financial by 6.5% in the 1st quarter. Diversified Trust Co now owns 39,480 shares of the financial services provider’s stock valued at $704,000 after buying an additional 2,394 shares during the last quarter. Vanguard Group Inc. grew its holdings in CVB Financial by 1.1% in the 4th 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. Goldman Sachs Group Inc. grew its holdings in CVB Financial by 104.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after buying an additional 1,994,369 shares during the last quarter. Woodward Diversified Capital LLC acquired a new stake in CVB Financial in the 4th quarter valued at approximately $392,000. Finally, Schroder Investment Management Group grew its holdings in CVB Financial by 12.5% in the 4th quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock valued at $17,425,000 after buying an additional 95,970 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

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.