CVB Financial’s (CVBF) Equal Weight Rating Reaffirmed at Stephens

CVB Financial (NASDAQ:CVBF)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $23.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 7.46% from the stock’s current price.

Several other research analysts have also recently weighed in on CVBF. Piper Sandler boosted their price target on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.13.

CVB Financial Price Performance

CVBF stock opened at $21.40 on Tuesday. CVB Financial has a 1 year low of $17.94 and a 1 year high of $21.48. The company has a market cap of $3.78 billion, a P/E ratio of 14.12 and a beta of 0.66. The firm has a 50-day moving average of $20.33 and a 200 day moving average of $19.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $132.12 million during the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period last year, the business earned $0.36 EPS. On average, sell-side analysts forecast that CVB Financial will post 1.56 EPS for the current year.

Insider Buying and Selling

In other CVB Financial news, Director George A. Borba, Jr. purchased 50,242 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $19.90 per share, with a total value of $999,815.80. Following the acquisition, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of CVB Financial by 28.1% in the first quarter. Bank of America Corp DE now owns 925,555 shares of the financial services provider’s stock worth $17,947,000 after buying an additional 202,857 shares in the last quarter. Amundi bought a new stake in CVB Financial in the 1st quarter valued at $536,000. EverSource Wealth Advisors LLC lifted its stake in CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares in the last quarter. California State Teachers Retirement System lifted its stake in CVB Financial by 32.8% in the 1st quarter. California State Teachers Retirement System now owns 162,816 shares of the financial services provider’s stock worth $3,157,000 after purchasing an additional 40,212 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of CVB Financial by 8.5% during the 1st quarter. Royal Bank of Canada now owns 21,755 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 1,704 shares during the last quarter. 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.