Wedbush Raises CVB Financial (NASDAQ:CVBF) Price Target to $21.00

CVB Financial (NASDAQ:CVBF) had its price objective boosted by Wedbush from $18.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective would suggest a potential upside of 8.02% from the company’s previous close.

A number of other research firms also recently weighed in on CVBF. Keefe, Bruyette & Woods cut their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. 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, April 22nd. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Stephens reissued an “equal weight” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, CVB Financial has a consensus rating of “Hold” and a consensus price target of $19.50.

CVB Financial Trading Down 2.2 %

Shares of CVB Financial stock opened at $19.44 on Thursday. The stock has a 50-day moving average price of $17.08 and a 200 day moving average price of $17.24. The company has a market cap of $2.71 billion, a P/E ratio of 12.79 and a beta of 0.47. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $125.27 million during the quarter, compared to the consensus estimate of $126.86 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. On average, equities analysts forecast that CVB Financial will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. bought 4,610 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $16.00 per share, with a total value of $73,760.00. Following the acquisition, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CVB Financial news, Director George A. Borba, Jr. bought 34,200 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $15.99 per share, with a total value of $546,858.00. Following the acquisition, the director now directly owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. acquired 4,610 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the acquisition, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The disclosure for this purchase can be found here. Insiders have acquired 39,910 shares of company stock valued at $638,669 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Institutional Trading of CVB Financial

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CVB Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock worth $317,014,000 after purchasing an additional 176,694 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CVB Financial by 16.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after buying an additional 594,901 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after buying an additional 1,994,369 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CVB Financial by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock worth $76,412,000 after buying an additional 190,343 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of CVB Financial by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,059,293 shares of the financial services provider’s stock worth $54,578,000 after buying an additional 144,587 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Company Profile

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.