CVB Financial Corporation (NASDAQ:CVBF) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of CVB Financial Corporation (NASDAQ:CVBF) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.30.

A number of equities analysts have recently commented on CVBF shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CVB Financial in a report on Wednesday, July 8th. Stephens reiterated an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a research note on Tuesday, June 16th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Wednesday, July 1st. Finally, Piper Sandler increased their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, April 27th.

CVB Financial Stock Performance

NASDAQ CVBF opened at $22.82 on Friday. The firm has a market cap of $4.03 billion, a P/E ratio of 15.01 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $21.23 and its 200-day moving average is $20.31. CVB Financial has a 12-month low of $17.94 and a 12-month high of $23.36.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The company had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. During the same period last year, the firm earned $0.36 EPS. Sell-side analysts predict that CVB Financial will post 1.63 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. CVB Financial’s dividend payout ratio is currently 52.63%.

Insider Activity

In other news, Director George A. Borba, Jr. acquired 25,187 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the transaction, the director owned 846,308 shares of the company’s stock, valued at $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.40% of the company’s stock.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in CVB Financial by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock valued at $147,620,000 after purchasing an additional 331,307 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CVB Financial by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock worth $102,092,000 after purchasing an additional 67,563 shares during the period. HoldCo Asset Management LP increased its holdings in shares of CVB Financial by 17,051.0% in the fourth 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. Victory Capital Management Inc. raised its position in shares of CVB Financial by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock worth $37,784,000 after buying an additional 74,914 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of CVB Financial by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock worth $32,359,000 after buying an additional 39,771 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

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.