CVB Financial (NASDAQ:CVBF) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

CVB Financial Corp. (NASDAQ:CVBF)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $19.90 and traded as high as $20.83. CVB Financial shares last traded at $20.82, with a volume of 452,415 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, October 24th. Stephens decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, Piper Sandler lowered their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.20.

CVB Financial Trading Up 2.3 %

The company’s fifty day moving average is $21.71 and its 200-day moving average is $19.90. The firm has a market capitalization of $2.91 billion, a P/E ratio of 14.46 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.84%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s payout ratio is currently 55.56%.

Institutional Trading of CVB Financial

A number of hedge funds have recently bought and sold shares of CVBF. Charles Schwab Investment Management Inc. raised its position in shares of CVB Financial by 3.8% during the third 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 during the last quarter. Geode Capital Management LLC raised its holdings in CVB Financial by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CVB Financial by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider’s stock worth $13,634,000 after acquiring an additional 17,734 shares during the period. Wellington Management Group LLP acquired a new stake in shares of CVB Financial during the 3rd quarter worth approximately $8,653,000. Finally, JPMorgan Chase & Co. increased its position in shares of CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after purchasing an additional 74,004 shares during the period. 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.