Stephens Reiterates “Equal Weight” Rating for CVB Financial (NASDAQ:CVBF)

CVB Financial (NASDAQ:CVBF)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a report released on Thursday, Benzinga reports. They currently have a $20.00 target price on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 21.36% from the company’s current price.

Several other brokerages have also recently issued reports on CVBF. StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Wedbush reissued a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a report on Thursday. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods cut their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $16.48 on Thursday. The firm has a fifty day moving average price of $16.98 and a 200 day moving average price of $17.70. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77. The stock has a market cap of $2.30 billion, a PE ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its earnings results 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 10.94%. The firm had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts expect that CVB Financial will post 1.43 EPS for the current year.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the purchase, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at $1,548,038.70. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 63,601 shares of company stock valued at $1,067,145. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of CVB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in CVB Financial by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock worth $59,558,000 after acquiring an additional 213,038 shares during the last quarter. Equitable Trust Co. boosted its position in CVB Financial by 8.3% during the third quarter. Equitable Trust Co. now owns 26,074 shares of the financial services provider’s stock worth $432,000 after acquiring an additional 1,994 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in CVB Financial during the third quarter worth about $1,243,000. Victory Capital Management Inc. boosted its position in CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock worth $6,909,000 after acquiring an additional 375,426 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in CVB Financial by 3.3% during the third quarter. GSA Capital Partners LLP now owns 96,122 shares of the financial services provider’s stock worth $1,593,000 after acquiring an additional 3,112 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.