CVB Financial Corporation (NASDAQ:CVBF) Stock Rated “Moderate Buy” by Sell-Side Brokerages

CVB Financial Corporation (NASDAQ:CVBF) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.25.

Several equities analysts recently weighed in on CVBF shares. DA Davidson increased their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Wednesday, July 1st. Finally, Piper Sandler increased their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th.

Insiders Place Their Bets

In other news, COO David C. Harvey sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at $2,251,538.06. The trade was a 28.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brien Raymond V. O. III acquired 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were bought at an average cost of $22.77 per share, with a total value of $455,400.00. Following the completion of the purchase, the director directly owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVBF. Nykredit A S purchased a new position in shares of CVB Financial in the 2nd quarter worth about $43,000. EverSource Wealth Advisors LLC grew its holdings in shares of CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of CVB Financial during the 2nd quarter worth about $53,000. Northwestern Mutual Wealth Management Co. acquired a new stake in CVB Financial during the 2nd quarter worth approximately $77,000. Finally, Parkside Financial Bank & Trust increased its position in CVB Financial by 752.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,581 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 3,161 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Down 1.1%

CVBF stock opened at $21.94 on Friday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 15.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. CVB Financial has a one year low of $17.94 and a one year high of $23.41. The company has a 50 day moving average price of $22.55 and a two-hundred day moving average price of $21.32.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $179.43 million for 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 prior year, the company earned $0.36 EPS. As a group, sell-side analysts expect that CVB Financial will post 1.74 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.6%. CVB Financial’s dividend payout ratio is 55.17%.

CVB Financial Company Profile

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a commercial bank headquartered in Ontario, California. Founded in 1974, the company provides banking and financial services primarily to businesses, professionals, individuals and public-sector organizations throughout California.

Citizens Business Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration loans, agricultural lending and consumer credit products.