CVB Financial (NASDAQ:CVBF) Price Target Cut to $19.00 by Analysts at Keefe, Bruyette & Woods

CVB Financial (NASDAQ:CVBF) had its price objective reduced by stock analysts at Keefe, Bruyette & Woods from $20.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 14.73% from the stock’s current price.

Other analysts also recently issued reports about the company. Wedbush reiterated a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research report on Thursday. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research report on Monday. StockNews.com upgraded CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.00.

CVB Financial Stock Up 0.3 %

Shares of NASDAQ CVBF traded up $0.05 during midday trading on Friday, hitting $16.56. 114,577 shares of the company’s stock were exchanged, compared to its average volume of 896,664. CVB Financial has a 12 month low of $10.66 and a 12 month high of $21.77. The company’s 50 day moving average price is $17.00 and its 200 day moving average price is $17.69. The firm has a market capitalization of $2.31 billion, a PE ratio of 10.89 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. The firm had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same period in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts anticipate that CVB Financial will post 1.43 EPS for the current year.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 59,601 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director George A. Borba, Jr. purchased 59,601 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David A. Brager purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $16.75 per share, with a total value of $33,500.00. Following the purchase, the chief executive officer now owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. Over the last three months, insiders bought 63,601 shares of company stock worth $1,067,145. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVB Financial

Large investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in CVB Financial during the fourth quarter worth approximately $36,000. GAMMA Investing LLC acquired a new stake in CVB Financial during the fourth quarter worth approximately $102,000. Headlands Technologies LLC acquired a new stake in CVB Financial during the fourth quarter worth approximately $122,000. Assetmark Inc. grew its stake in CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 5,038 shares during the period. Finally, Covestor Ltd grew its stake in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 885 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.