CVB Financial Corp. (NASDAQ:CVBF) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given a consensus recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.80.

A number of equities research analysts recently issued reports on CVBF shares. Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Piper Sandler lowered their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On CVB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of CVB Financial in the 3rd quarter worth about $8,653,000. American Century Companies Inc. grew its position in shares of CVB Financial by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after acquiring an additional 58,774 shares in the last quarter. Citigroup Inc. increased its holdings in shares of CVB Financial by 9.8% in the 3rd quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after acquiring an additional 23,682 shares during the last quarter. Seaside Wealth Management Inc. bought a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $1,395,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after acquiring an additional 181,769 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Trading Down 1.0 %

NASDAQ:CVBF opened at $21.77 on Tuesday. CVB Financial has a twelve month low of $15.71 and a twelve month high of $24.58. The company has a market capitalization of $3.04 billion, a P/E ratio of 15.22 and a beta of 0.49. The firm has a 50-day moving average price of $21.69 and a two-hundred day moving average price of $19.04.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts predict that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Tuesday, December 31st. CVB Financial’s payout ratio is 55.94%.

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.