Stephens Forecasts Strong Price Appreciation for CVB Financial (NASDAQ:CVBF) Stock

CVB Financial (NASDAQ:CVBF) had its price objective increased by equities research analysts at Stephens from $23.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target points to a potential upside of 11.11% from the company’s current price.

Several other research analysts also recently issued reports on CVBF. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Piper Sandler lifted their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. DA Davidson boosted their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.75.

CVB Financial Trading Down 0.3%

Shares of CVBF stock opened at $22.50 on Tuesday. CVB Financial has a twelve month low of $17.94 and a twelve month high of $23.36. The stock’s fifty day simple moving average is $21.54 and its 200 day simple moving average is $20.47. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.97 billion, a P/E ratio of 15.52 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million during the quarter, compared to the consensus estimate of $184.62 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, sell-side analysts predict that CVB Financial will post 1.66 EPS for the current fiscal year.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. bought 50,242 shares of CVB Financial stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the acquisition, the director directly owned 796,024 shares of the company’s stock, valued at approximately $15,840,877.60. The trade was a 6.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in CVB Financial during the 1st quarter worth about $1,096,000. Bessemer Group Inc. raised its position in shares of CVB Financial by 34.1% in the 1st quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock worth $28,439,000 after acquiring an additional 372,732 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of 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 valued at $1,912,000 after purchasing an additional 58,882 shares during the period. Bernzott Capital Advisors acquired a new position in shares of CVB Financial in the 1st quarter valued at about $8,054,000. Finally, UBS Group AG boosted its position in shares of CVB Financial by 25.2% during the 4th quarter. UBS Group AG now owns 161,339 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 32,499 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.