CVB Financial (NASDAQ:CVBF) Price Target Lowered to $23.00 at Stephens

CVB Financial (NASDAQ:CVBF) had its price objective decreased by Stephens from $25.00 to $23.00 in a research note released on Monday morning,Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on CVBF. Keefe, Bruyette & Woods increased their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their target price 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.20.

CVB Financial Price Performance

Shares of CVBF stock opened at $21.02 on Monday. The business has a fifty day moving average of $21.99 and a 200 day moving average of $19.80. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 14.60 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.41% and a net margin of 29.32%. As a group, equities research analysts expect that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC raised its stake in CVB Financial by 2.1% in the 3rd quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 545 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of CVB Financial by 5.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after buying an additional 748 shares in the last quarter. GAMMA Investing LLC boosted its position in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in CVB Financial by 4.7% in the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 859 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in CVB Financial by 17.7% in the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

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.