CVB Financial Corporation (CVBF) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of CVB Financial Corporation (NASDAQ:CVBF) in a research note issued to investors on Friday morning. They currently have a $23.00 target price on the financial services provider’s stock.
CVBF has been the subject of several other reports. Hovde Group raised shares of CVB Financial Corporation from an underperform rating to a market perform rating and set a $21.00 price target for the company in a research note on Friday, May 19th. Zacks Investment Research cut shares of CVB Financial Corporation from a buy rating to a hold rating in a research note on Tuesday, July 25th. BidaskClub raised shares of CVB Financial Corporation from a sell rating to a hold rating in a research note on Friday, June 30th. Finally, Wedbush reaffirmed a neutral rating and set a $22.00 price target on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has an average rating of Hold and a consensus price target of $21.50.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 21.40 on Friday. CVB Financial Corporation has a 1-year low of $16.19 and a 1-year high of $24.63. The firm has a 50-day moving average of $22.08 and a 200-day moving average of $22.07. The firm has a market capitalization of $2.36 billion, a PE ratio of 21.27 and a beta of 1.51.
CVB Financial Corporation (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $81.26 million during the quarter, compared to analysts’ expectations of $80.10 million. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. During the same period last year, the business earned $0.23 EPS. On average, equities research analysts anticipate that CVB Financial Corporation will post $1.06 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were paid a $0.14 dividend. The ex-dividend date was Monday, July 3rd. This is a boost from CVB Financial Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 2.60%. CVB Financial Corporation’s dividend payout ratio (DPR) is currently 56.00%.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in CVB Financial Corporation during the fourth quarter valued at $15,996,000. Prudential Financial Inc. boosted its position in CVB Financial Corporation by 1.2% in the first quarter. Prudential Financial Inc. now owns 173,573 shares of the financial services provider’s stock valued at $3,834,000 after buying an additional 2,110 shares in the last quarter. Teachers Advisors LLC boosted its position in CVB Financial Corporation by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 183,513 shares of the financial services provider’s stock valued at $4,208,000 after buying an additional 4,097 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in CVB Financial Corporation during the first quarter valued at $2,135,000. Finally, Comerica Bank boosted its position in CVB Financial Corporation by 3.4% in the first quarter. Comerica Bank now owns 144,088 shares of the financial services provider’s stock valued at $3,174,000 after buying an additional 4,800 shares in the last quarter. 67.79% of the stock is owned by institutional investors and hedge funds.
About CVB Financial Corporation
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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