CVB Financial Corporation (NASDAQ:CVBF) Receives $23.88 Consensus Price Target from Brokerages

CVB Financial Corporation (NASDAQ:CVBF) has been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.8750.

CVBF has been the topic of several research analyst reports. DA Davidson raised their price objective on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th.

CVB Financial Stock Performance

NASDAQ:CVBF opened at $19.88 on Tuesday. CVB Financial has a one year low of $16.01 and a one year high of $21.41. The business’s 50-day simple moving average is $19.38 and its 200 day simple moving average is $19.51. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 13.62 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. On average, equities research analysts predict that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, December 29th. CVB Financial’s payout ratio is 54.79%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 27,094 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the acquisition, the director directly owned 745,782 shares of the company’s stock, valued at approximately $13,759,677.90. The trade was a 3.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Large investors have recently made changes to their positions in the business. Salomon & Ludwin LLC bought a new stake in CVB Financial during the third quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its stake in shares of CVB Financial by 394.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 2,790 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CVB Financial by 26.8% in the third quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after buying an additional 854 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $103,000. Finally, GAMMA Investing LLC boosted its position in shares of CVB Financial by 13.5% in the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock worth $114,000 after buying an additional 685 shares during the period. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.