CVB Financial (NASDAQ:CVBF) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their neutral rating on shares of CVB Financial (NASDAQ:CVBF) in a research report sent to investors on Thursday, Benzinga reports. Wedbush currently has a $20.00 price target on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.36 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.38 EPS and Q3 2026 earnings at $0.38 EPS.

CVBF has been the subject of several other research reports. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Stephens lifted their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.25.

CVB Financial Trading Down 1.8 %

Shares of CVBF opened at $19.23 on Thursday. The company has a market capitalization of $2.69 billion, a PE ratio of 12.65 and a beta of 0.45. The business’s 50 day moving average is $18.12 and its 200 day moving average is $17.45. CVB Financial has a 12-month low of $15.38 and a 12-month high of $21.77.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Equities research analysts predict that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio is currently 52.63%.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of CVB Financial in the 3rd quarter worth $27,000. nVerses Capital LLC raised its position in shares of CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,400 shares in the last quarter. Versant Capital Management Inc raised its position in shares of CVB Financial by 832.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC bought a new position in shares of CVB Financial in the 2nd quarter worth $38,000. Finally, GAMMA Investing LLC grew its stake in CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after buying an additional 780 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

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.