CVB Financial Corp. (NASDAQ:CVBF) Receives Consensus Rating of “Hold” from Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $21.80.

CVBF has been the subject of several research reports. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler cut 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 report on Friday, November 1st.

CVB Financial Trading Up 0.8 %

Shares of CVBF stock opened at $20.53 on Friday. CVB Financial has a 12-month low of $15.71 and a 12-month high of $24.58. The stock has a market capitalization of $2.87 billion, a P/E ratio of 14.36 and a beta of 0.50. The firm’s 50 day moving average is $22.20 and its 200 day moving average is $19.63.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. As a group, equities 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 was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.90%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s dividend payout ratio is currently 55.94%.

Institutional Trading of CVB Financial

Several institutional investors and hedge funds have recently modified their holdings of CVBF. Dimensional Fund Advisors LP boosted its stake in shares of CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after acquiring an additional 816,176 shares during the period. Wellington Management Group LLP purchased a new position in CVB Financial in the 3rd quarter worth approximately $8,653,000. Jacobs Asset Management LLC bought a new position in CVB Financial in the 3rd quarter worth approximately $4,455,000. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 181,769 shares in the last quarter. Finally, Barclays PLC grew its holdings in CVB Financial by 79.5% during the 3rd quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after buying an additional 128,869 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

About CVB Financial

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.