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

CVB Financial (NASDAQ:CVBF) had its price target boosted by equities research analysts at DA Davidson from $25.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson‘s price objective suggests a potential upside of 12.78% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Piper Sandler increased their target price on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

CVB Financial Trading Up 1.4%

NASDAQ:CVBF traded up $0.31 during mid-day trading on Monday, reaching $23.05. The company’s stock had a trading volume of 383,411 shares, compared to its average volume of 1,522,658. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.77. The stock has a market cap of $4.06 billion, a P/E ratio of 15.25 and a beta of 0.68. The company’s fifty day simple moving average is $22.32 and its two-hundred day simple moving average is $21.23. CVB Financial has a twelve month low of $18.10 and a twelve month high of $23.95.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $195.56 million for the quarter, compared to analyst estimates of $192.80 million. CVB Financial had a net margin of 29.54% and a return on equity of 9.42%. During the same period in the prior year, the company earned $0.38 EPS. On average, equities analysts predict that CVB Financial will post 1.77 EPS for the current year.

Insider Activity at CVB Financial

In other CVB Financial news, Director Mike Maddox bought 10,000 shares of CVB Financial stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the acquisition, the director owned 13,138 shares of the company’s stock, valued at $289,430.14. The trade was a 318.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Heritage Family Offices LLP acquired a new stake in CVB Financial in the third quarter valued at approximately $40,000. Nykredit A S acquired a new position in shares of CVB Financial during the second quarter worth $43,000. EverSource Wealth Advisors LLC lifted its position in shares of CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of CVB Financial in the second quarter valued at $53,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of CVB Financial in the second quarter valued at $77,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corporation is the bank holding company for Citizens Business Bank, a California-based financial institution founded in 1974. The bank serves businesses, professionals, individuals and nonprofit organizations, with a strong presence in Southern California and operations in other parts of the state.

Citizens Business Bank provides commercial and small-business banking, including deposit accounts, business loans, commercial real estate financing and cash-management services.