CVB Financial Corp. (NASDAQ:CVBF) Receives $20.80 Consensus Price Target from Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has been given a consensus rating of “Hold” by the six analysts that are presently covering the company, MarketBeat.com 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 1-year target price among brokers that have covered the stock in the last year is $20.80.

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

Institutional Investors Weigh In On CVB Financial

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of CVB Financial in the 3rd quarter worth about $27,000. nVerses Capital LLC lifted its stake in 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 purchasing an additional 1,400 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,574 shares during the period. Innealta Capital LLC bought a new position in shares of CVB Financial during the second quarter valued at approximately $38,000. Finally, GAMMA Investing LLC grew its stake in shares of CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after buying an additional 780 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Price Performance

CVBF opened at $23.42 on Friday. CVB Financial has a 1-year low of $15.71 and a 1-year high of $24.58. The firm has a market cap of $3.27 billion, a P/E ratio of 16.38 and a beta of 0.44. The company has a 50 day simple moving average of $20.23 and a two-hundred day simple moving average of $18.38.

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 firm had revenue of $126.45 million for 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 quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Equities analysts anticipate that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed 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 yield of 3.42%. CVB Financial’s payout ratio 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.