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

CVB Financial Corp. (NASDAQ:CVBF) has been assigned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.20.

A number of equities research analysts recently commented on the company. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Stephens reduced their price target on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped 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.

CVB Financial Price Performance

CVB Financial stock opened at $20.63 on Wednesday. The company has a market capitalization of $2.88 billion, a PE ratio of 14.33 and a beta of 0.50. CVB Financial has a one year low of $15.71 and a one year high of $24.58. The business has a 50 day simple moving average of $21.41 and a 200 day simple moving average of $19.93.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. Equities analysts anticipate that CVB Financial will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.88%. CVB Financial’s payout ratio is 55.56%.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVBF. AQR Capital Management LLC lifted its stake in shares of CVB Financial by 132.1% in the 2nd quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 13,771 shares during the period. SG Americas Securities LLC acquired a new position in CVB Financial in the third quarter valued at about $107,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 780 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of CVB Financial by 4.7% during the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after buying an additional 859 shares during the period. Finally, Inspire Advisors LLC increased its stake in shares of CVB Financial by 4.1% in the 3rd quarter. Inspire Advisors LLC now owns 89,011 shares of the financial services provider’s stock valued at $1,586,000 after acquiring an additional 3,527 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.