CVB Financial (NASDAQ:CVBF) Price Target Lowered to $19.00 at Keefe, Bruyette & Woods

CVB Financial (NASDAQ:CVBF) had its price target decreased by Keefe, Bruyette & Woods from $20.00 to $19.00 in a research note released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Wedbush reiterated a neutral rating and issued a $19.00 price target on shares of CVB Financial in a research report on Thursday. StockNews.com upgraded shares of CVB Financial to a sell rating in a research report on Friday, January 5th. Stephens restated an equal weight rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday. Finally, Hovde Group lowered CVB Financial from an outperform rating to a market perform rating and set a $18.00 price objective on the stock. in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $19.00.

CVB Financial Stock Down 0.2 %

CVBF opened at $16.48 on Friday. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 0.46. The stock’s 50 day moving average price is $16.98 and its two-hundred day moving average price is $17.70.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue was down 8.9% compared to the same quarter last year. As a group, analysts anticipate that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s payout ratio is 52.63%.

Insider Activity

In related news, Director George A. Borba, Jr. acquired 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David A. Brager purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was 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 approximately $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 in the last 90 days. 6.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVB Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of CVB Financial during the 4th quarter worth approximately $36,000. GAMMA Investing LLC bought a new position in CVB Financial during the 4th quarter worth $102,000. Headlands Technologies LLC bought a new stake in shares of CVB Financial during the 4th quarter valued at $122,000. Covestor Ltd grew its holdings in shares of CVB Financial by 11.2% during the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 885 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of CVB Financial by 141.5% during the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 5,038 shares in 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.