CVB Financial Corp. (NASDAQ:CVBF) Receives $20.80 Consensus PT from Brokerages

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.80.

Several brokerages recently issued reports on CVBF. Piper Sandler cut their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Finally, Stephens boosted their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th.

CVB Financial Trading Up 17.1 %

Shares of CVBF opened at $22.62 on Monday. The stock has a 50-day moving average price of $18.46 and a 200-day moving average price of $17.65. The company has a market cap of $3.16 billion, a PE ratio of 15.82 and a beta of 0.44. CVB Financial has a 12-month low of $15.71 and a 12-month high of $22.63.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. CVB Financial’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts predict that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.54%. CVB Financial’s payout ratio is 55.94%.

Institutional Trading of CVB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Natixis Advisors LLC grew its holdings in shares of CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 545 shares during the last quarter. Arizona State Retirement System grew its holdings in CVB Financial by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of CVB Financial by 5.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 748 shares during the period. GAMMA Investing LLC raised its stake in shares of CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in shares of CVB Financial by 4.7% during the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 859 shares during the period. Institutional investors 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.