CVB Financial (NASDAQ:CVBF) PT Lowered to $19.00

CVB Financial (NASDAQ:CVBF) had its target price lowered by analysts at Keefe, Bruyette & Woods from $20.00 to $19.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.29% from the stock’s current price.

CVBF has been the topic of a number of other reports. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a research report on Thursday. Finally, StockNews.com upgraded CVB Financial to a “sell” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of “Hold” and an average price target of $19.00.

CVB Financial Stock Down 0.2 %

Shares of CVB Financial stock opened at $16.48 on Friday. The stock’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $17.70. CVB Financial has a 52 week low of $10.66 and a 52 week high of $21.77. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities analysts expect that CVB Financial will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO E Allen Nicholson acquired 2,000 shares of CVB Financial stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the completion of the purchase, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CVB Financial news, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $16.77 per share, with a total value of $33,540.00. Following the completion of the purchase, the chief financial officer now owns 92,310 shares in the company, valued at approximately $1,548,038.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders have purchased 63,601 shares of company stock valued at $1,067,145 over the last ninety days. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $36,000. GAMMA Investing LLC bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $102,000. Headlands Technologies LLC bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $122,000. Assetmark Inc. grew its stake in shares of CVB Financial by 141.5% during the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the last quarter. Finally, Covestor Ltd grew its stake in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 885 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

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.