Analysts Set CVB Financial Corp. (NASDAQ:CVBF) PT at $20.80

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

Several equities analysts have weighed in on CVBF shares. Piper Sandler dropped their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a 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. Keefe, Bruyette & Woods upgraded shares of 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. Finally, Stephens raised their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th.

Institutional Investors Weigh In On CVB Financial

Several hedge funds have recently modified their holdings of CVBF. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial in the third quarter worth approximately $27,000. nVerses Capital LLC boosted its position in shares of CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,400 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,574 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of CVB Financial in the second quarter worth approximately $38,000. Finally, GAMMA Investing LLC boosted its position 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 worth $78,000 after acquiring an additional 780 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $22.00 on Monday. The stock has a market cap of $3.07 billion, a P/E ratio of 15.38 and a beta of 0.44. The firm has a fifty day moving average price of $18.59 and a 200 day moving average price of $17.72. CVB Financial has a 1-year low of $15.71 and a 1-year high of $22.63.

CVB Financial (NASDAQ:CVBF) last released 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 analysts’ expectations 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 was down 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. Sell-side analysts expect that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. CVB Financial’s dividend payout ratio is currently 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.