CVB Financial Corporation (NASDAQ:CVBF) Receives $23.88 Consensus Target Price from Analysts

CVB Financial Corporation (NASDAQ:CVBF) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.8750.

CVBF has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Wall Street Zen lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, DA Davidson increased their target price on shares of CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research report on Friday, December 19th.

CVB Financial Stock Up 0.2%

Shares of CVB Financial stock opened at $19.92 on Tuesday. The stock has a market cap of $2.73 billion, a PE ratio of 13.64 and a beta of 0.68. CVB Financial has a 12 month low of $16.01 and a 12 month high of $21.41. The business has a fifty day simple moving average of $19.43 and a 200-day simple moving average of $19.49.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%.The firm had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. Analysts expect that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

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

Insider Buying and Selling

In other news, Director George A. Borba, Jr. bought 27,094 shares of the stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the purchase, the director directly owned 745,782 shares of the company’s stock, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVB Financial

Several institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new position in CVB Financial in the third quarter worth approximately $25,000. Hantz Financial Services Inc. lifted its position in shares of CVB Financial by 394.6% in the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after buying an additional 2,790 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 854 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of CVB Financial during the 2nd quarter valued at about $103,000. Finally, GAMMA Investing LLC raised its stake in shares of CVB Financial by 13.5% in the 2nd quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 685 shares in 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.