CVB Financial Corp. (NASDAQ:CVBF) Receives $21.80 Consensus PT from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.80.

Several equities analysts have recently weighed in on CVBF shares. Piper Sandler reduced their price objective 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 restated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in CVB Financial by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after buying an additional 74,004 shares during the period. Geode Capital Management LLC increased its stake in shares of CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock worth $56,401,000 after acquiring an additional 15,628 shares during the last quarter. Barclays PLC increased its stake in shares of CVB Financial by 79.5% in the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after acquiring an additional 128,869 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of CVB Financial during the third quarter worth $597,000. Finally, Jane Street Group LLC boosted its position in CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 14,384 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 1.0 %

CVBF stock opened at $22.20 on Tuesday. The company has a 50-day simple moving average of $21.84 and a 200 day simple moving average of $19.14. The company has a market capitalization of $3.10 billion, a P/E ratio of 15.52 and a beta of 0.49. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $126.45 million for 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%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. Equities analysts anticipate that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Tuesday, December 31st. CVB Financial’s dividend payout ratio is 55.94%.

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.