CVB Financial Corp. (NASDAQ:CVBF) Receives $20.80 Consensus PT from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $20.80.

Several brokerages have weighed in on CVBF. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Piper Sandler lowered their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th.

CVB Financial Price Performance

CVB Financial stock opened at $23.42 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 16.38 and a beta of 0.44. The firm has a 50-day moving average of $20.23 and a two-hundred day moving average of $18.38. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Research analysts expect that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is currently 55.94%.

Hedge Funds Weigh In On CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its position in shares of CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after buying an additional 545 shares during the last quarter. Arizona State Retirement System raised its stake in shares of CVB Financial by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in CVB Financial by 5.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 748 shares during the last quarter. GAMMA Investing LLC boosted its stake in CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in CVB Financial by 4.7% in the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 859 shares during the last quarter. Hedge funds and other 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.