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

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is $20.00.

Several analysts recently issued reports on CVBF shares. Stephens lifted their target price on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Finally, Wedbush lifted their price objective on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th.

CVB Financial Stock Performance

CVB Financial stock opened at $17.71 on Friday. The stock has a market cap of $2.47 billion, a PE ratio of 11.65 and a beta of 0.45. The stock has a fifty day moving average of $17.89 and a 200 day moving average of $17.18. CVB Financial has a one year low of $14.62 and a one year high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $126.86 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that CVB Financial will post 1.4 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s payout ratio is currently 52.63%.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 4,610 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kimberly H. Sheehy sold 2,961 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total value of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares of the company’s stock, valued at approximately $225,493.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director George A. Borba, Jr. purchased 4,610 shares of CVB Financial stock in a transaction dated Monday, June 17th. The stock was bought at an average cost of $16.00 per share, with a total value of $73,760.00. Following the completion of the transaction, the director now owns 665,121 shares in the company, valued at approximately $10,641,936. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP grew its stake in CVB Financial by 55.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 44,327 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 15,735 shares during the last quarter. AQR Capital Management LLC grew its stake in CVB Financial by 132.1% during the 2nd quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 13,771 shares during the last quarter. Marshall Wace LLP purchased a new stake in CVB Financial during the 2nd quarter valued at about $856,000. Bank of Montreal Can grew its stake in CVB Financial by 237.9% during the 2nd quarter. Bank of Montreal Can now owns 70,072 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 49,333 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in CVB Financial by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 291,836 shares of the financial services provider’s stock valued at $5,031,000 after purchasing an additional 20,498 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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.