Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) PT at $20.25

Shares of CVB Financial Corp. (NASDAQ:CVBF) have earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.25.

A number of equities analysts have recently issued reports on CVBF shares. Keefe, Bruyette & Woods raised CVB Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush dropped their price target on CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, Stephens raised their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th.

CVB Financial Trading Up 4.7 %

Shares of CVBF stock opened at $18.81 on Thursday. CVB Financial has a 12 month low of $14.62 and a 12 month high of $21.77. The stock has a 50 day moving average of $17.62 and a two-hundred day moving average of $17.30. The company has a market capitalization of $2.63 billion, a P/E ratio of 12.38 and a beta of 0.45.

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

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.25%. CVB Financial’s dividend payout ratio is currently 52.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of 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 purchasing an additional 725 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of CVB Financial by 5.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 748 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in CVB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock worth $1,150,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in CVB Financial by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock worth $2,062,000 after acquiring an additional 1,299 shares in the last quarter. 74.18% of the stock is currently 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.