CVB Financial Corporation (NASDAQ:CVBF) Given Average Rating of “Moderate Buy” by Analysts

CVB Financial Corporation (NASDAQ:CVBF) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, 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 12 month target price among analysts that have issued a report on the stock in the last year is $26.25.

Several research analysts have recently weighed in on the stock. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a report on Thursday, August 6th. DA Davidson raised their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Piper Sandler lifted their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Wednesday, July 1st.

Insider Activity at CVB Financial

In other news, Director Brien Raymond V. O. III acquired 20,000 shares of CVB Financial stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares in the company, valued at $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David C. Harvey sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares of the company’s stock, valued at $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds have recently made changes to their positions in CVBF. BlackRock Inc. bought a new stake in CVB Financial during the 2nd quarter valued at approximately $579,285,000. HoldCo Asset Management LP boosted its stake in CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the period. Bank of New York Mellon Corp bought a new position in CVB Financial in the 2nd quarter worth approximately $38,066,000. Arrowstreet Capital Limited Partnership grew its holdings in CVB Financial by 71.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock valued at $23,684,000 after buying an additional 507,228 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in CVB Financial during the 1st quarter valued at approximately $8,303,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Up 0.8%

Shares of NASDAQ:CVBF opened at $23.00 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. CVB Financial has a 1 year low of $17.94 and a 1 year high of $23.36. The company has a market cap of $4.05 billion, a P/E ratio of 15.86 and a beta of 0.65. The stock’s fifty day moving average price is $22.14 and its 200-day moving average price is $20.72.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period last year, the firm posted $0.36 EPS. Sell-side analysts expect that CVB Financial will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. CVB Financial’s payout ratio is presently 55.17%.

About CVB Financial

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.