Stephens Lowers CVB Financial (NASDAQ:CVBF) Price Target to $23.00

CVB Financial (NASDAQ:CVBF) had its price target cut by Stephens from $25.00 to $23.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

CVBF has been the topic of a number of other reports. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.20.

CVB Financial Stock Performance

CVBF stock opened at $21.02 on Monday. The firm has a market cap of $2.94 billion, a PE ratio of 14.60 and a beta of 0.50. CVB Financial has a one year low of $15.71 and a one year high of $24.58. The firm’s 50 day moving average price is $21.99 and its 200-day moving average price is $19.80.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.41% and a net margin of 29.32%. Equities research 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 Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s payout ratio is currently 55.56%.

Institutional Trading of CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial during the third quarter worth $27,000. GAMMA Investing LLC lifted its stake in shares of CVB Financial by 21.7% in the 3rd 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 period. KBC Group NV increased its stake in shares of CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 1,556 shares during the period. SG Americas Securities LLC purchased a new position in CVB Financial during the third quarter worth about $107,000. Finally, Blue Trust Inc. lifted its position in CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 918 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.