CVB Financial Corporation (NASDAQ:CVBF) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CVB Financial Corporation (NASDAQ:CVBF) have been given a consensus rating of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.1250.

Several equities research analysts have commented on CVBF shares. Piper Sandler boosted their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Finally, Stephens reissued an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a report on Tuesday.

CVB Financial Stock Performance

Shares of CVBF stock traded up $0.45 during trading hours on Tuesday, reaching $21.29. 341,039 shares of the company’s stock were exchanged, compared to its average volume of 1,574,642. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50 day moving average is $20.33 and its two-hundred day moving average is $19.91. The company has a market cap of $3.76 billion, a P/E ratio of 14.09 and a beta of 0.66. CVB Financial has a 1 year low of $17.94 and a 1 year high of $21.63.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter in the prior year, the company posted $0.36 earnings per share. Equities research analysts anticipate that CVB Financial will post 1.56 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. CVB Financial’s payout ratio is 52.63%.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. purchased 25,187 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the acquisition, the director directly owned 846,308 shares in the company, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CVB Financial

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in shares of CVB Financial by 2.1% during the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock worth $472,000 after buying an additional 521 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in CVB Financial by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider’s stock valued at $1,330,000 after acquiring an additional 561 shares in the last quarter. Savant Capital LLC increased its holdings in CVB Financial by 5.6% during the 3rd quarter. Savant Capital LLC now owns 10,689 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 564 shares in the last quarter. CWM LLC raised its position in CVB Financial by 6.3% during the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 620 shares during the last quarter. Finally, Bolthouse Investments LLC raised its position in CVB Financial by 1.1% during the fourth quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider’s stock worth $1,105,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

About CVB Financial

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.