Weekly Analysts’ Ratings Changes for CVB Financial (CVBF)

CVB Financial (NASDAQ: CVBF) recently received a number of ratings updates from brokerages and research firms:

• 4/26/2024 – CVB Financial had its price target lowered by analysts at Keefe, Bruyette & Woods from $20.00 to $19.00. They now have a “market perform” rating on the stock.
• 4/25/2024 – CVB Financial had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $19.00 price target on the stock.
• 4/25/2024 – CVB Financial had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $20.00 price target on the stock.
• 4/22/2024 – CVB Financial was downgraded by analysts at Hovde Group from an “outperform” rating to a “market perform” rating. They now have a $18.00 price target on the stock.

CVB Financial Stock Performance

Shares of CVBF stock traded up $0.12 during mid-day trading on Monday, hitting $16.60. The company’s stock had a trading volume of 313,088 shares, compared to its average volume of 896,185. The business has a 50-day moving average price of $16.98 and a 200 day moving average price of $17.71. CVB Financial Corp. has a 52-week low of $10.66 and a 52-week high of $21.77. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 10.92 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $127.46 million. During the same quarter last year, the business earned $0.42 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. Equities research analysts predict that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.82%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 59,601 shares of CVB Financial stock in a transaction 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 purchase, the director now owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO E Allen Nicholson bought 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $16.77 per share, with a total value of $33,540.00. Following the completion of the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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, with a total value of $1,000,104.78. Following the acquisition, the director now directly 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 bought a total of 63,601 shares of company stock worth $1,067,145 in the last 90 days. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVB Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in CVB Financial in the 4th quarter valued at about $36,000. GAMMA Investing LLC acquired a new stake in shares of CVB Financial in the fourth quarter valued at about $102,000. Headlands Technologies LLC purchased a new stake in shares of CVB Financial during the fourth quarter valued at approximately $122,000. Assetmark Inc. increased its stake in 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 buying an additional 5,038 shares during the period. Finally, Covestor Ltd lifted its stake in shares of CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

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.