CVB Financial Corp. (NASDAQ:CVBF) Receives $19.00 Consensus Price Target from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been assigned an average rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $19.00.

CVBF has been the subject of a number of research reports. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a report on Monday, April 22nd. Wedbush reiterated a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd.

CVB Financial Stock Down 1.7 %

Shares of CVBF stock opened at $16.86 on Tuesday. The stock has a fifty day moving average of $16.69 and a 200 day moving average of $17.45. CVB Financial has a 52 week low of $12.89 and a 52 week high of $21.77. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.09 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The company had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Equities research analysts anticipate that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 11th. This represents a $0.80 annualized dividend and a yield of 4.74%. CVB Financial’s payout ratio is 52.63%.

Insider Buying and Selling

In other CVB Financial news, Director George A. Borba, Jr. acquired 34,200 shares of CVB Financial stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $15.99 per share, for a total transaction of $546,858.00. Following the acquisition, the director now owns 660,511 shares of the company’s stock, valued at $10,561,570.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George A. Borba, Jr. bought 34,200 shares of the company’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $15.99 per share, with a total value of $546,858.00. Following the completion of the transaction, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George A. Borba, Jr. acquired 4,610 shares of the stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the transaction, the director now owns 665,121 shares in the company, valued at $10,641,936. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 39,910 shares of company stock worth $638,669. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in CVB Financial during the 4th quarter valued at approximately $36,000. GAMMA Investing LLC bought a new stake in CVB Financial during the 4th quarter valued at approximately $102,000. Headlands Technologies LLC bought a new stake in CVB Financial during the 4th quarter valued at approximately $122,000. Assetmark Inc. raised its stake in CVB Financial by 141.5% during the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares during the period. Finally, Federated Hermes Inc. bought a new stake in CVB Financial during the 3rd quarter valued at approximately $218,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.