CVB Financial (NASDAQ:CVBF) Sets New 12-Month High – What’s Next?

CVB Financial Corporation (NASDAQ:CVBF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.74 and last traded at $21.8060, with a volume of 96970 shares traded. The stock had previously closed at $21.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVBF shares. Piper Sandler increased their target price on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Finally, Stephens reissued an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.12.

CVB Financial Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 14.38 and a beta of 0.66. The stock has a fifty day simple moving average of $20.44 and a two-hundred day simple moving average of $19.95.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.The business had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. During the same period last year, the firm posted $0.36 earnings per share. Analysts expect that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. purchased 50,242 shares of CVB Financial stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the purchase, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors have recently added to or reduced their stakes in CVBF. Aster Capital Management DIFC Ltd boosted its holdings in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of CVB Financial in the fourth quarter worth approximately $42,000. Larson Financial Group LLC boosted its stake in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of CVB Financial by 40.6% in the 1st 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. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of CVB Financial during the second quarter worth $103,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

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.