CVB Financial (NASDAQ:CVBF – Get Free Report) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat.com reports. The firm currently has a $22.00 price target on the financial services provider’s stock, up from their previous price target of $20.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 21.82% from the stock’s previous close.
CVBF has been the subject of several other reports. Wedbush lowered their price objective on CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Stephens raised their price target on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.25.
Get Our Latest Research Report on CVBF
CVB Financial Stock Performance
CVB Financial (NASDAQ:CVBF – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, analysts predict that CVB Financial will post 1.4 earnings per share for the current fiscal year.
Institutional Trading of CVB Financial
Several hedge funds have recently modified their holdings of CVBF. nVerses Capital LLC raised its stake in shares of CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of CVB Financial in the second quarter valued at $38,000. SG Americas Securities LLC acquired a new stake in shares of CVB Financial in the third quarter valued at $107,000. Finally, WBI Investments LLC acquired a new stake in shares of CVB Financial in the second quarter valued at $177,000. 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.
Read More
- Five stocks we like better than CVB Financial
- Best Stocks Under $5.00
- When Is the Best Time to Invest in Mutual Funds?
- Which Wall Street Analysts are the Most Accurate?
- Is NVIDIA Stock in a Correction or Consolidation?
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- 3 Oversold Stocks with Big RSI Rebound Potential
Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.