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

Shares of CVB Financial Corp. (NASDAQ:CVBFGet Free Report) have been assigned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.80.

Several equities research analysts have weighed in on the company. Stephens increased their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Piper Sandler dropped their price target on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday.

Read Our Latest Research Report on CVBF

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.27 on Monday. The firm has a market capitalization of $2.69 billion, a PE ratio of 13.48 and a beta of 0.44. CVB Financial has a one year low of $15.71 and a one year high of $21.77. The company has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $17.58.

CVB Financial (NASDAQ:CVBFGet Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Equities analysts forecast that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Hedge Funds Weigh In On CVB Financial

Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in CVB Financial during the first quarter worth about $1,205,000. GSA Capital Partners LLP bought a new stake in shares of CVB Financial in the 1st quarter worth approximately $1,606,000. Bessemer Group Inc. lifted its stake in CVB Financial by 7.3% during the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock valued at $9,629,000 after purchasing an additional 36,894 shares during the last quarter. Sei Investments Co. boosted its holdings in CVB Financial by 15.5% during the first quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock worth $10,908,000 after buying an additional 82,125 shares in the last quarter. Finally, American Century Companies Inc. grew its position in CVB Financial by 1.0% in the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after buying an additional 58,774 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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