CVB Financial Corp. (NASDAQ:CVBF) Receives Average Rating of “Hold” from Brokerages

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average recommendation of “Hold” by the four ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $20.67.

Several brokerages have recently issued reports on CVBF. Keefe, Bruyette & Woods cut their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Wedbush cut their price target on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com raised shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th.

CVB Financial Stock Up 0.6 %

NASDAQ CVBF opened at $15.85 on Thursday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 9.97 and a beta of 0.46. The company has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $17.68. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $138.52 million during the quarter, compared to analysts’ expectations of $134.88 million. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. Equities analysts expect that CVB Financial will post 1.49 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is currently 50.31%.

Insider Buying and Selling at CVB Financial

In related news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director George A. Borba, Jr. purchased 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Brager purchased 2,000 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the purchase, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 63,601 shares of company stock valued at $1,067,145. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVBF. Citigroup Inc. increased its stake in shares of CVB Financial by 20.6% in the 1st quarter. Citigroup Inc. now owns 121,451 shares of the financial services provider’s stock worth $2,818,000 after acquiring an additional 20,745 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of CVB Financial during the first quarter valued at approximately $422,000. Bank of Montreal Can lifted its holdings in shares of CVB Financial by 5.6% during the first quarter. Bank of Montreal Can now owns 40,228 shares of the financial services provider’s stock valued at $942,000 after purchasing an additional 2,135 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of CVB Financial by 63.5% during the first quarter. MetLife Investment Management LLC now owns 72,516 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 28,159 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of CVB Financial by 3.2% in the 1st quarter. Rhumbline Advisers now owns 417,911 shares of the financial services provider’s stock worth $9,700,000 after purchasing an additional 12,818 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.