Analysts Set CVB Financial Corporation (CVBF) PT at $21.40
CVB Financial Corporation (NASDAQ:CVBF) has earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.40.
CVBF has been the subject of several research analyst reports. BidaskClub raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Wedbush reissued a “neutral” rating and set a $22.00 price objective on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Zacks Investment Research raised CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods set a $23.00 price objective on CVB Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th.
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In related news, Director Anna Kan acquired 4,660 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the acquisition, the director now owns 17,660 shares in the company, valued at $379,690. The purchase was disclosed in a filing with the SEC, which is available at this link. 7.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of CVB Financial Corporation in the second quarter worth about $497,000. The Manufacturers Life Insurance Company increased its holdings in shares of CVB Financial Corporation by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 79,856 shares of the financial services provider’s stock worth $1,791,000 after buying an additional 1,495 shares during the period. Shelton Capital Management purchased a new position in shares of CVB Financial Corporation in the second quarter worth about $225,000. Goldman Sachs Group Inc. increased its holdings in shares of CVB Financial Corporation by 7.8% in the second quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock worth $84,759,000 after buying an additional 274,617 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of CVB Financial Corporation in the second quarter worth about $917,000. Hedge funds and other institutional investors own 67.33% of the company’s stock.
CVB Financial Corporation (NASDAQ CVBF) traded up 1.12% during trading on Wednesday, hitting $22.56. The stock had a trading volume of 429,443 shares. The stock has a market capitalization of $2.49 billion, a P/E ratio of 22.43 and a beta of 1.53. CVB Financial Corporation has a 52 week low of $16.32 and a 52 week high of $24.63. The company has a 50-day moving average of $20.91 and a 200-day moving average of $21.54.
CVB Financial Corporation (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.10 million. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities analysts expect that CVB Financial Corporation will post $1.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.48%. CVB Financial Corporation’s payout ratio is 56.00%.
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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