CVB Financial Corp. (NASDAQ:CVBF) Receives $22.20 Average Target Price from Analysts

Shares of CVB Financial Corp. (NASDAQ:CVBF) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.20.

Separately, Stephens lowered their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th.

CVB Financial Stock Down 1.2 %

NASDAQ:CVBF opened at $16.85 on Thursday. The business’s 50-day simple moving average is $19.56 and its two-hundred day simple moving average is $20.35. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58. The stock has a market cap of $2.35 billion, a PE ratio of 11.70 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Sell-side analysts anticipate that CVB Financial will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Wednesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

Hedge Funds Weigh In On CVB Financial

Several institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its position in shares of CVB Financial by 80.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider’s stock valued at $35,000 after buying an additional 720 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in CVB Financial by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 880 shares during the last quarter. Blue Trust Inc. raised its position in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 918 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of CVB Financial by 5.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 19,475 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 1,054 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 1,556 shares during the period. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

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.