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

CVB Financial Corp. (NASDAQ:CVBF) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.20.

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th.

CVB Financial Stock Up 2.0 %

Shares of NASDAQ CVBF opened at $18.78 on Friday. The stock has a market cap of $2.62 billion, a PE ratio of 13.04 and a beta of 0.46. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The business has a 50-day moving average price of $20.17 and a 200 day moving average price of $20.27.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Sell-side analysts anticipate that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.26%. CVB Financial’s dividend payout ratio is currently 55.56%.

Institutional Trading of CVB Financial

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of CVB Financial by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,405 shares of the financial services provider’s stock valued at $136,116,000 after buying an additional 162,422 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CVB Financial by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock worth $110,401,000 after purchasing an additional 204,164 shares during the last quarter. Capital Research Global Investors acquired a new position in CVB Financial during the fourth quarter worth $94,382,000. Geode Capital Management LLC raised its holdings in CVB Financial by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock worth $56,401,000 after purchasing an additional 15,628 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in CVB Financial by 15.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider’s stock worth $49,979,000 after purchasing an additional 317,418 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.