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

CVB Financial Corporation (NASDAQ:CVBF) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.50.

Several brokerages have recently weighed in on CVBF. Piper Sandler increased their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. DA Davidson lifted their target price on CVB Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, November 9th. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a report on Thursday, August 6th.

CVB Financial Stock Up 0.2%

Shares of NASDAQ:CVBF opened at $22.52 on Friday. The stock has a market cap of $3.93 billion, a P/E ratio of 14.91 and a beta of 0.68. The firm has a fifty day moving average price of $22.37 and a 200 day moving average price of $21.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.76 and a quick ratio of 0.77. CVB Financial has a 1-year low of $18.10 and a 1-year high of $23.95.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $195.56 million for the quarter, compared to analysts’ expectations of $192.80 million. CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. During the same period in the previous year, the business posted $0.38 earnings per share. Sell-side analysts predict that CVB Financial will post 1.77 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. CVB Financial’s dividend payout ratio (DPR) is 52.98%.

Insiders Place Their Bets

In other news, Director Mike Maddox acquired 10,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $22.03 per share, with a total value of $220,300.00. Following the purchase, the director owned 13,138 shares of the company’s stock, valued at $289,430.14. This represents a 318.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of CVB Financial

Several hedge funds have recently made changes to their positions in CVBF. Jupiter Topco LLC purchased a new position in shares of CVB Financial during the 2nd quarter worth $1,710,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CVB Financial in the 3rd quarter valued at about $3,443,000. Legal & General Group Plc acquired a new position in shares of CVB Financial during the 2nd quarter valued at about $8,705,000. Wellington Management Group LLP increased its stake in shares of CVB Financial by 16.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,227,820 shares of the financial services provider’s stock valued at $27,687,000 after acquiring an additional 173,984 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of CVB Financial during the 2nd quarter valued at about $20,882,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corporation is the bank holding company for Citizens Business Bank, a California-based financial institution founded in 1974. The bank serves businesses, professionals, individuals and nonprofit organizations, with a strong presence in Southern California and operations in other parts of the state. Citizens Business Bank provides commercial and small-business banking, including deposit accounts, business loans, commercial real estate financing and cash-management services. It also offers personal banking and trust and wealth-management services.