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

Shares of CVB Financial Corp. (NASDAQ:CVBF) have received a consensus recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.00.

CVBF has been the subject of several recent analyst reports. Stephens assumed coverage on CVB Financial in a report on Friday, December 8th. They issued an “equal weight” rating and a $21.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Wedbush reduced their price target on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Finally, TheStreet raised shares of CVB Financial from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO E Allen Nicholson acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the acquisition, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 63,601 shares of company stock valued at $1,067,145 over the last quarter. 5.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its stake in CVB Financial by 145.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,493 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,476 shares during the last quarter. Strs Ohio bought a new stake in CVB Financial in the 4th quarter valued at $36,000. Point72 Hong Kong Ltd acquired a new stake in shares of CVB Financial during the 4th quarter valued at about $42,000. FMR LLC boosted its position in shares of CVB Financial by 96.0% during the 2nd quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 860 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of CVB Financial by 277.7% during the 3rd quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 2,116 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $17.84 on Friday. The stock’s fifty day moving average price is $17.41 and its two-hundred day moving average price is $17.69. CVB Financial has a one year low of $10.66 and a one year high of $21.77. The firm has a market cap of $2.49 billion, a PE ratio of 11.22 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The firm had revenue of $138.52 million for the quarter, compared to analyst estimates of $134.88 million. Sell-side analysts expect that CVB Financial will post 1.49 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 50.31%.

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.