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

CVB Financial Corp. (NASDAQ:CVBF) has earned a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.80.

Several research firms have weighed in on CVBF. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Finally, Piper Sandler reduced their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st.

Hedge Funds Weigh In On CVB Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC raised its position in shares of CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after buying an additional 545 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of CVB Financial by 1.9% during 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 in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of CVB Financial by 5.4% during 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 purchasing an additional 748 shares during the period. GAMMA Investing LLC raised its stake in shares of CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 780 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its position in CVB Financial by 4.7% in 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 Price Performance

Shares of NASDAQ CVBF opened at $23.83 on Friday. The company has a market capitalization of $3.33 billion, a P/E ratio of 16.66 and a beta of 0.44. CVB Financial has a one year low of $15.71 and a one year high of $24.58. The business’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $18.32.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts anticipate that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is currently 55.94%.

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.