CVB Financial (NASDAQ:CVBF) Reaches New 1-Year High at $22.33

Shares of CVB Financial Corp. (NASDAQ:CVBF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.33 and last traded at $21.65, with a volume of 16915 shares trading hands. The stock had previously closed at $21.60.

A number of equities research analysts have recently issued reports on CVBF shares. Zacks Investment Research upgraded shares of CVB Financial from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, December 29th. Wedbush boosted their price target on shares of CVB Financial from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, October 26th. Finally, TheStreet raised shares of CVB Financial from a “c+” rating to a “b-” rating in a research report on Thursday, November 19th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.50.

The stock’s 50-day moving average is $20.83 and its 200 day moving average is $19.11. The stock has a market capitalization of $2.91 billion, a PE ratio of 16.62 and a beta of 0.63. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Tuesday, January 26th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. CVB Financial had a net margin of 36.90% and a return on equity of 9.06%. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that CVB Financial Corp. will post 1.27 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank bought a new stake in shares of CVB Financial during the 4th quarter worth $39,000. Veriti Management LLC bought a new stake in shares of CVB Financial during the 4th quarter worth $71,000. SG Americas Securities LLC acquired a new position in CVB Financial during the 4th quarter valued at $150,000. Jefferies Group LLC acquired a new position in CVB Financial during the 4th quarter valued at $215,000. Finally, Truist Financial Corp acquired a new position in CVB Financial during the 4th quarter valued at $226,000. 68.59% of the stock is owned by institutional investors.

About CVB Financial (NASDAQ:CVBF)

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial services. The company 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.

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