CVB Financial Corp. (NASDAQ:CVBF) Given Average Recommendation of “Hold” by Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

A number of equities analysts have commented on CVBF shares. Wedbush increased their target price on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Stephens increased their target price on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a report on Friday, July 26th.

Insider Transactions at CVB Financial

In other news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares in the company, valued at $225,493.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director George A. Borba, Jr. bought 4,610 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average cost 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 approximately $10,641,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly H. Sheehy sold 2,961 shares of CVB Financial stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total value of $50,751.54. Following the completion of the transaction, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in CVB Financial in the first quarter valued at $1,205,000. GSA Capital Partners LLP acquired a new stake in CVB Financial in the first quarter valued at $1,606,000. Dimensional Fund Advisors LP increased its position in shares of CVB Financial by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares in the last quarter. Bessemer Group Inc. increased its position in shares of CVB Financial by 7.3% during the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock worth $9,629,000 after purchasing an additional 36,894 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of CVB Financial by 15.5% during the first quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock worth $10,908,000 after purchasing an additional 82,125 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Up 3.5 %

Shares of CVBF opened at $17.71 on Friday. CVB Financial has a 52 week low of $14.62 and a 52 week high of $21.77. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 11.65 and a beta of 0.45. The stock’s 50-day moving average price is $17.89 and its 200-day moving average price is $17.18.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $125.27 million for the quarter, compared to the consensus estimate of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that CVB Financial will post 1.4 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.52%. CVB Financial’s dividend payout ratio is currently 52.63%.

About CVB Financial

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.