CVB Financial Corporation (NASDAQ:CVBF) Stock Has Average Target Price of $26.25 According to Analysts

CVB Financial Corporation (NASDAQ:CVBF) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.25.

Several research firms have weighed in on CVBF. Wall Street Zen upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Thursday, August 6th. Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. DA Davidson raised their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Raymond James Financial raised 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.

Insider Buying and Selling

In related news, Director Brien Raymond V. O. III acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the transaction, the director owned 85,780 shares in the company, valued at $1,953,210.60. This trade represents a 30.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Maddox bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $22.03 per share, with a total value of $220,300.00. Following the purchase, the director directly owned 13,138 shares in the company, valued at $289,430.14. The trade was a 318.67% increase in their position. The SEC filing for this purchase provides additional information. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC grew its stake in shares of CVB Financial by 2.1% during the fourth quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 521 shares in the last quarter. Savant Capital LLC lifted its stake in shares of CVB Financial by 6.1% in the fourth quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 653 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in CVB Financial by 40.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 695 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in CVB Financial by 7.5% in the first quarter. Gamco Investors INC. ET AL now owns 10,750 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 750 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in CVB Financial by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 33,011 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 1,400 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

Shares of CVBF stock opened at $22.53 on Friday. CVB Financial has a fifty-two week low of $17.94 and a fifty-two week high of $23.41. The stock has a market cap of $3.97 billion, a P/E ratio of 15.54 and a beta of 0.64. The business has a fifty day simple moving average of $22.57 and a 200-day simple moving average of $21.27. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. During the same period last year, the firm earned $0.36 EPS. On average, analysts forecast that CVB Financial will post 1.74 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

CVB Financial Company Profile

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a commercial bank headquartered in Ontario, California. Founded in 1974, the company provides banking and financial services primarily to businesses, professionals, individuals and public-sector organizations throughout California.

Citizens Business Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration loans, agricultural lending and consumer credit products.