CVB Financial Corporation (NASDAQ:CVBF) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CVB Financial Corporation (NASDAQ:CVBF) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $26.25.

A number of research firms have issued reports on CVBF. Piper Sandler lifted their price objective on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a report on Thursday, August 6th. DA Davidson upped their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th.

Insider Activity at CVB Financial

In other news, Director Mike Maddox purchased 10,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were acquired at an average cost of $22.03 per share, with a total value of $220,300.00. Following the completion of the acquisition, the director owned 13,138 shares of the company’s stock, valued at $289,430.14. This trade represents a 318.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brien Raymond V. O. III purchased 20,000 shares of CVB Financial stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares of the company’s stock, valued at approximately $1,953,210.60. This represents a 30.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of CVB Financial by 28.7% during the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 8,432 shares during the last quarter. AQR Capital Management LLC raised its position in shares of CVB Financial by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 12,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CVB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after purchasing an additional 3,442 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in CVB Financial by 848.1% in the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CVB Financial by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after purchasing an additional 38,250 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

NASDAQ:CVBF opened at $22.62 on Monday. The stock has a 50-day moving average price of $22.62 and a 200 day moving average price of $20.99. The stock has a market capitalization of $3.98 billion, a P/E ratio of 15.60 and a beta of 0.64. CVB Financial has a 12-month low of $17.94 and a 12-month high of $23.41. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The business had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that CVB Financial will post 1.72 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. CVB Financial’s payout ratio is presently 55.17%.

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.