Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) PT at $20.00

CVB Financial Corp. (NASDAQ:CVBF) has earned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.00.

Several analysts have commented on CVBF shares. Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Stephens initiated coverage on shares of CVB Financial in a research note on Friday, December 8th. They set an “equal weight” rating and a $21.00 target price for the company. Wedbush cut their target price on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. TheStreet raised shares of CVB Financial from a “c+” rating to a “b-” rating in a report on Thursday, December 14th. Finally, StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. acquired 59,601 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George A. Borba, Jr. purchased 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the purchase, the chief financial officer now owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 63,601 shares of company stock valued at $1,067,145. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVB Financial

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of CVB Financial by 7.7% in the first quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock valued at $483,284,000 after purchasing an additional 1,487,960 shares during the period. Vanguard Group Inc. lifted its position in shares of CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares in the last quarter. State Street Corp increased its holdings in shares of CVB Financial by 29.9% in the second quarter. State Street Corp now owns 8,084,109 shares of the financial services provider’s stock valued at $107,357,000 after purchasing an additional 1,861,050 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CVB Financial by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after acquiring an additional 594,901 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after acquiring an additional 1,204,090 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

NASDAQ CVBF opened at $17.84 on Friday. The company’s 50 day simple moving average is $17.41 and its 200 day simple moving average is $17.69. CVB Financial has a 12 month low of $10.66 and a 12 month high of $21.77. The company has a market capitalization of $2.49 billion, a P/E ratio of 11.22 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The business had revenue of $138.52 million for the quarter, compared to analyst estimates of $134.88 million. On average, analysts anticipate that CVB Financial will post 1.49 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is 50.31%.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.