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

Shares of CVB Financial Corp. (NASDAQ:CVBF) 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.

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:CVBF) 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

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.