Analysts Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $21.80

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Four 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 target among brokerages that have covered the stock in the last year is $21.80.

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their price objective 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.

Institutional Investors Weigh In On CVB Financial

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in CVB Financial in the 3rd quarter valued at approximately $27,000. nVerses Capital LLC raised its stake 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 valued at $29,000 after purchasing an additional 1,400 shares in the last quarter. Innealta Capital LLC bought a new position in CVB Financial in the second quarter worth $38,000. GAMMA Investing LLC boosted its stake in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after buying an additional 780 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in CVB Financial in the 3rd quarter valued at $107,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 1.0 %

Shares of CVBF opened at $22.20 on Tuesday. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The company’s fifty day moving average is $21.84 and its 200-day moving average is $19.14. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 15.52 and a beta of 0.49.

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. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, research analysts predict that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Tuesday, December 31st. 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.