CVB Financial Corporation (CVBF) Rating Reiterated by Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their hold rating on shares of CVB Financial Corporation (NASDAQ:CVBF) in a research report sent to investors on Friday morning.

A number of other brokerages have also issued reports on CVBF. ValuEngine lowered shares of CVB Financial Corporation from a buy rating to a hold rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods set a $23.00 price target on shares of CVB Financial Corporation and gave the stock a hold rating in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of CVB Financial Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. BidaskClub upgraded shares of CVB Financial Corporation from a sell rating to a hold rating in a research note on Friday, June 30th. Finally, Wedbush reiterated a neutral rating and set a $22.00 price target on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $22.60.

Shares of CVB Financial Corporation (NASDAQ CVBF) opened at 23.68 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 23.54 and a beta of 1.56. The stock’s 50 day moving average is $21.79 and its 200 day moving average is $21.58. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $25.25.

CVB Financial Corporation (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. The business had revenue of $81.26 million for the quarter, compared to analyst estimates of $80.10 million. During the same period in the previous year, the business posted $0.23 earnings per share. On average, equities analysts forecast that CVB Financial Corporation will post $1.06 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.36%. CVB Financial Corporation’s dividend payout ratio (DPR) is 56.00%.

In related news, Director Anna Kan bought 4,660 shares of the stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the transaction, the director now owns 17,660 shares of the company’s stock, valued at approximately $379,690. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio grew its position in CVB Financial Corporation by 12.5% during the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after buying an additional 500 shares during the period. Cutler Capital Management LLC grew its position in CVB Financial Corporation by 10.3% during the second quarter. Cutler Capital Management LLC now owns 6,000 shares of the financial services provider’s stock worth $134,000 after buying an additional 558 shares during the period. Riverhead Capital Management LLC grew its position in CVB Financial Corporation by 54.5% during the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after buying an additional 2,291 shares during the period. D.A. Davidson & CO. grew its position in CVB Financial Corporation by 29.3% during the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,600 shares during the period. Finally, Gradient Investments LLC grew its position in CVB Financial Corporation by 9.0% during the second quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock worth $164,000 after buying an additional 600 shares during the period. Institutional investors own 67.33% of the company’s stock.

CVB Financial Corporation Company Profile

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

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