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

Shares of CVB Financial Corporation (NASDAQ:CVBF) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.75.

CVBF has been the topic of several research reports. Stephens upped their target price on CVB Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Piper Sandler increased their price target 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. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. DA Davidson boosted their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, 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.

Insiders Place Their Bets

In related news, COO David C. Harvey sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at $2,251,538.06. This trade represents a 28.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brien Raymond V. O. III acquired 20,000 shares of CVB Financial stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the purchase, the director owned 85,780 shares of the company’s stock, valued at approximately $1,953,210.60. This represents a 30.40% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 95,429 shares of company stock valued at $1,955,178. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVBF. Royal Bank of Canada increased its position in shares of CVB Financial by 28.7% in the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after buying an additional 8,432 shares in the last quarter. AQR Capital Management LLC grew its stake in CVB Financial by 36.6% in the first quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CVB Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 3,442 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of CVB Financial by 848.1% in the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of CVB Financial by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after purchasing an additional 38,250 shares during the period. Institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Down 0.9%

NASDAQ:CVBF opened at $22.89 on Thursday. The stock’s 50-day moving average is $21.88 and its two-hundred day moving average is $20.64. CVB Financial has a fifty-two week low of $17.94 and a fifty-two week high of $23.36. The stock has a market cap of $4.04 billion, a PE ratio of 15.79 and a beta of 0.65. 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 (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The company had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. During the same period last year, the business earned $0.36 EPS. As a group, equities research analysts forecast that CVB Financial will post 1.72 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

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