CVB Financial (NASDAQ:CVBF) Stock Price Expected to Rise, DA Davidson Analyst Says

CVB Financial (NASDAQ:CVBF) had its price objective upped by analysts at DA Davidson from $22.50 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 10.82% from the company’s previous close.

Several other analysts have also issued reports on the stock. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Piper Sandler upped their price target on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Finally, Stephens reiterated an “equal weight” rating and issued a $23.00 price objective on shares of CVB Financial in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $22.56 on Friday. The business’s 50 day moving average price is $21.49 and its 200-day moving average price is $20.44. CVB Financial has a 1 year low of $17.94 and a 1 year high of $23.36. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period in the previous year, the firm posted $0.36 EPS. On average, equities research analysts forecast that CVB Financial will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. bought 25,187 shares of the stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $19.85 per share, with a total value of $499,961.95. Following the purchase, the director directly owned 846,308 shares in the company, valued at $16,799,213.80. This trade represents a 3.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVB Financial

Hedge funds have recently modified their holdings of the business. HoldCo Asset Management LP increased its stake in shares of CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after acquiring an additional 2,211,005 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of CVB Financial by 71.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock valued at $23,684,000 after acquiring an additional 507,228 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of CVB Financial in the first quarter valued at about $8,303,000. Bernzott Capital Advisors purchased a new stake in shares of CVB Financial in the first quarter valued at about $8,054,000. Finally, Bessemer Group Inc. increased its position in CVB Financial by 34.1% during the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock worth $28,439,000 after purchasing an additional 372,732 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

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.