CVB Financial (NASDAQ:CVBF) Rating Reiterated by Stephens

Stephens reiterated their equal weight rating on shares of CVB Financial (NASDAQ:CVBF) in a research note published on Thursday, Benzinga reports. Stephens currently has a $20.00 price objective on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of CVB Financial from $22.00 to $20.00 and set a market perform rating on the stock in a research note on Friday, January 26th. Wedbush restated a neutral rating and issued a $19.00 target price on shares of CVB Financial in a research report on Thursday. Hovde Group lowered shares of 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. Finally, StockNews.com upgraded shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $19.00.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $16.48 on Thursday. The company’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $17.70. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 0.46. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $126.57 million for the quarter, compared to analysts’ expectations of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. As a group, analysts anticipate that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. CVB Financial’s dividend payout ratio is currently 52.63%.

Insider Transactions at CVB Financial

In other CVB Financial news, CFO E Allen Nicholson purchased 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the acquisition, the chief financial officer now owns 92,310 shares in the company, valued at $1,548,038.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CVB Financial news, Director George A. Borba, Jr. purchased 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO E Allen Nicholson purchased 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the acquisition, the chief financial officer now owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 63,601 shares of company stock worth $1,067,145. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in CVB Financial in the fourth quarter valued at $36,000. GAMMA Investing LLC acquired a new position in CVB Financial in the fourth quarter valued at $102,000. Headlands Technologies LLC acquired a new position in CVB Financial in the fourth quarter valued at $122,000. Assetmark Inc. lifted its holdings in CVB Financial by 141.5% in 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 period. Finally, Covestor Ltd lifted its holdings in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after buying an additional 885 shares during the period. Institutional investors and hedge funds 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.