CVB Financial Corporation (NASDAQ:CVBF) Stock Has Consensus Target Price of $26.25 According to Analysts

CVB Financial Corporation (NASDAQ:CVBF) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.25.

Several research firms recently commented on CVBF. Piper Sandler raised 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. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. DA Davidson upped their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Wednesday, July 1st. Finally, Stephens raised 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.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $22.91 on Tuesday. The firm has a market cap of $4.03 billion, a P/E ratio of 13.81 and a beta of 0.66. The firm’s 50-day simple moving average is $22.28 and its 200-day simple moving average is $21.06. CVB Financial has a twelve month low of $18.01 and a twelve month high of $23.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.75.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $191.74 million for the quarter, compared to the consensus estimate of $192.80 million. CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, research analysts expect that CVB Financial will post 1.75 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. CVB Financial’s dividend payout ratio (DPR) is 52.98%.

Insider Transactions at CVB Financial

In other news, Director Mike Maddox purchased 10,000 shares of CVB Financial stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the transaction, the director directly owned 13,138 shares in the company, valued at approximately $289,430.14. This represents a 318.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David C. Harvey sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer directly owned 98,149 shares in the company, valued at $2,251,538.06. This represents a 28.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Momentous Wealth Management Inc. acquired a new stake in CVB Financial during the 3rd quarter valued at $2,560,000. GAMMA Investing LLC boosted its stake in CVB Financial by 4.9% in the third quarter. GAMMA Investing LLC now owns 9,981 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 462 shares in the last quarter. QRG Capital Management Inc. boosted its stake in CVB Financial by 16.9% in the second quarter. QRG Capital Management Inc. now owns 12,276 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,776 shares in the last quarter. WINTON GROUP Ltd acquired a new position in CVB Financial in the second quarter worth $4,900,000. Finally, Integrated Wealth Concepts LLC acquired a new position in CVB Financial in the second quarter worth $186,000. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.