CVB Financial (NASDAQ:CVBF) Receives “Equal Weight” Rating from Stephens

CVB Financial (NASDAQ:CVBF)‘s stock had its “equal weight” rating reiterated by investment analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $23.00 price target on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 7.46% from the stock’s current price.

CVBF has been the topic of a number of other reports. Piper Sandler raised their price target on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, CVB Financial presently has an average rating of “Moderate Buy” and a consensus price target of $24.13.

CVB Financial Stock Up 2.7%

Shares of NASDAQ:CVBF opened at $21.40 on Tuesday. The business’s 50 day moving average is $20.33 and its 200 day moving average is $19.91. CVB Financial has a 12-month low of $17.94 and a 12-month high of $21.48. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 14.12 and a beta of 0.66. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period last year, the business earned $0.36 EPS. On average, sell-side analysts forecast that CVB Financial will post 1.56 earnings per share for the current fiscal year.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. purchased 25,187 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $19.85 per share, with a total value of $499,961.95. Following the acquisition, the director owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This represents a 3.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is owned by insiders.

Institutional Trading of CVB Financial

Hedge funds have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. purchased a new position in CVB Financial during the 3rd quarter valued at about $896,000. Clifford Capital Partners LLC raised its position in shares of CVB Financial by 3,800.6% in the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after buying an additional 648,229 shares in the last quarter. LSV Asset Management bought a new stake in shares of CVB Financial during the 3rd quarter valued at about $2,324,000. Tudor Investment Corp ET AL grew its stake in CVB Financial by 139.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock worth $1,912,000 after buying an additional 58,882 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in CVB Financial by 14.4% in the third quarter. Public Sector Pension Investment Board now owns 505,294 shares of the financial services provider’s stock worth $9,555,000 after acquiring an additional 63,632 shares in the last quarter. Institutional investors 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.