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

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

A number of analysts have weighed in on CVBF shares. Keefe, Bruyette & Woods decreased their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research report on Monday, April 22nd. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. purchased 34,200 shares of CVB Financial stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the completion of the transaction, the director now directly owns 660,511 shares of the company’s stock, valued at $10,561,570.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director George A. Borba, Jr. bought 4,610 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the purchase, the director now owns 665,121 shares in the company, valued at approximately $10,641,936. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George A. Borba, Jr. bought 34,200 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the purchase, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. Insiders have purchased 39,910 shares of company stock worth $638,669 over the last 90 days. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in CVB Financial in the fourth quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in shares of CVB Financial in the 4th quarter worth about $102,000. Headlands Technologies LLC bought a new stake in shares of CVB Financial in the 4th quarter worth about $122,000. Assetmark Inc. lifted its holdings in CVB Financial by 141.5% during the 4th 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 in the last quarter. Finally, Federated Hermes Inc. bought a new stake in CVB Financial during the 3rd quarter valued at about $218,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $17.06 on Tuesday. CVB Financial has a fifty-two week low of $12.89 and a fifty-two week high of $21.77. The business has a fifty day moving average price of $16.68 and a two-hundred day moving average price of $17.51. The stock has a market capitalization of $2.38 billion, a PE ratio of 11.22 and a beta of 0.47.

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

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Thursday, July 11th. CVB Financial’s dividend payout ratio is currently 52.63%.

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.