CVB Financial (NASDAQ:CVBF) PT Raised to $21.00 at Stephens

CVB Financial (NASDAQ:CVBF) had its price objective hoisted by Stephens from $19.00 to $21.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently commented on the company. Wedbush increased their price target on CVB Financial from $18.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, July 25th. Hovde Group cut shares of CVB Financial from an outperform rating to a market perform rating and set a $18.00 target price for the company. in a research note on Monday, April 22nd. Janney Montgomery Scott downgraded shares of CVB Financial from a buy rating to a neutral rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research note on Friday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $20.00.

CVB Financial Stock Performance

Shares of CVBF stock opened at $19.05 on Friday. CVB Financial has a 52 week low of $14.62 and a 52 week high of $21.77. The company’s 50 day moving average price is $17.21 and its two-hundred day moving average price is $17.24. The company has a market capitalization of $2.66 billion, a P/E ratio of 12.53 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same period in the prior year, the firm earned $0.40 earnings per share. CVB Financial’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts forecast that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s payout ratio is 52.63%.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. acquired 4,610 shares of the business’s stock in a transaction on Monday, June 17th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the transaction, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director George A. Borba, Jr. acquired 4,610 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $73,760.00. Following the transaction, the director now directly owns 665,121 shares of the company’s stock, valued at $10,641,936. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George A. Borba, Jr. bought 34,200 shares of CVB Financial stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $15.99 per share, with a total value of $546,858.00. Following the transaction, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in shares of CVB Financial by 2.5% during the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 854 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in CVB Financial during the fourth quarter worth about $293,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in CVB Financial by 8.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,791 shares of the financial services provider’s stock valued at $1,571,000 after buying an additional 5,867 shares during the period. Equitable Trust Co. raised its position in shares of CVB Financial by 6.5% in the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock valued at $561,000 after buying an additional 1,705 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of CVB Financial by 6.7% during the 4th quarter. Cerity Partners LLC now owns 56,144 shares of the financial services provider’s stock worth $1,134,000 after acquiring an additional 3,502 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.