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

CVB Financial (NASDAQ:CVBF)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a report issued on Thursday, Benzinga reports. They currently have a $20.00 price target on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 21.36% from the company’s previous close.

CVBF has been the subject of several other research reports. Keefe, Bruyette & Woods lowered 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 note on Friday, January 26th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Monday, April 22nd. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th. Finally, Wedbush reiterated a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, CVB Financial presently has an average rating of “Hold” and an average target price of $19.00.

CVB Financial Price Performance

CVBF stock opened at $16.48 on Thursday. CVB Financial has a 1-year low of $10.66 and a 1-year high of $21.77. The firm has a fifty day moving average price of $16.98 and a two-hundred day moving average price of $17.70. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.94%. The firm had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, analysts expect that CVB Financial will post 1.43 EPS for the current fiscal year.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. purchased 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the transaction, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO E Allen Nicholson bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $16.77 per share, with a total value of $33,540.00. Following the transaction, the chief financial officer now directly owns 92,310 shares in the company, valued at $1,548,038.70. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of CVBF. Goldman Sachs Group Inc. grew its position in CVB Financial by 104.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after buying an additional 1,994,369 shares in the last quarter. Norges Bank bought a new position in CVB Financial in the 4th quarter valued at about $29,134,000. American Century Companies Inc. boosted its position in shares of CVB Financial by 44.1% during the 3rd quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after purchasing an additional 1,204,090 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CVB Financial by 56.4% during the 4th quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock valued at $58,848,000 after purchasing an additional 1,050,625 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of CVB Financial by 16.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock valued at $86,619,000 after purchasing an additional 594,901 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

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.