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

Shares of CVB Financial Corporation (NASDAQ:CVBF) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.8750.

Several equities research analysts have recently commented on CVBF shares. Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. DA Davidson boosted their price target on shares of CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Friday, December 19th. Finally, Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. acquired 27,094 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of $18.45 per share, with a total value of $499,884.30. Following the acquisition, the director owned 745,782 shares of the company’s stock, valued at approximately $13,759,677.90. This trade represents a 3.77% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in CVB Financial by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,110,009 shares of the financial services provider’s stock valued at $134,452,000 after acquiring an additional 147,061 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of CVB Financial by 3.7% in the third quarter. Victory Capital Management Inc. now owns 1,956,467 shares of the financial services provider’s stock valued at $36,997,000 after purchasing an additional 69,774 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of CVB Financial by 9.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,699,972 shares of the financial services provider’s stock valued at $32,146,000 after purchasing an additional 140,721 shares in the last quarter. Norges Bank purchased a new position in CVB Financial during the second quarter worth about $28,320,000. Finally, Bessemer Group Inc. grew its position in CVB Financial by 29.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock worth $20,720,000 after purchasing an additional 249,490 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

CVBF stock opened at $19.92 on Tuesday. The company’s 50-day moving average is $19.40 and its 200-day moving average is $19.51. The stock has a market capitalization of $2.73 billion, a PE ratio of 13.64 and a beta of 0.68. CVB Financial has a 1 year low of $16.01 and a 1 year high of $21.41.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $128.58 million during the quarter, compared to analyst estimates of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. On average, analysts anticipate that CVB Financial will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a $0.80 annualized dividend and a yield of 4.0%. CVB Financial’s dividend payout ratio (DPR) is presently 54.79%.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.