Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) PT at $22.20

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.20.

A number of equities analysts have weighed in on CVBF shares. Stephens lowered their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in CVB Financial during the 3rd quarter worth $8,653,000. JPMorgan Chase & Co. grew its stake in CVB Financial by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after purchasing an additional 74,004 shares in the last quarter. Jane Street Group LLC grew its stake in CVB Financial by 11.8% during the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after purchasing an additional 14,384 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in CVB Financial by 22.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in CVB Financial by 144.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 2,597 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $18.55 on Friday. The business’s 50 day moving average price is $20.33 and its 200-day moving average price is $20.28. The firm has a market capitalization of $2.59 billion, a PE ratio of 12.88 and a beta of 0.46. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, analysts expect that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.31%. CVB Financial’s dividend payout ratio is presently 55.56%.

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.