Analysts Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $19.00

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $19.00.

Several research analysts have recently commented on the stock. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Wedbush reiterated a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, April 22nd.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $16.86 on Tuesday. The company has a market cap of $2.35 billion, a PE ratio of 11.09 and a beta of 0.47. CVB Financial has a 52 week low of $12.89 and a 52 week high of $21.77. The firm has a 50 day simple moving average of $16.69 and a 200 day simple moving average of $17.45.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. On average, equities analysts predict that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Thursday, July 11th. CVB Financial’s dividend payout ratio is 52.63%.

Insider Transactions at CVB Financial

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

Institutional Trading of CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of CVB Financial in the fourth quarter valued at about $36,000. GAMMA Investing LLC bought a new position in shares of CVB Financial in the fourth quarter valued at about $102,000. Headlands Technologies LLC bought a new position in shares of CVB Financial in the fourth quarter valued at about $122,000. Assetmark Inc. raised its position in shares of CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of CVB Financial in the third quarter valued at about $218,000. 74.18% of the stock is owned by institutional investors.

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.