Keefe, Bruyette & Woods Issues Positive Forecast for CVB Financial (NASDAQ:CVBF) Stock Price

CVB Financial (NASDAQ:CVBF) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $23.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 16.68% from the stock’s previous close.

CVBF has been the topic of a number of other reports. Piper Sandler lowered their price target on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, CVB Financial has an average rating of “Hold” and an average target price of $21.80.

CVB Financial Stock Up 0.7 %

CVBF traded up $0.17 during trading on Wednesday, hitting $23.14. 116,912 shares of the stock were exchanged, compared to its average volume of 824,432. The firm has a market capitalization of $3.23 billion, a P/E ratio of 16.18 and a beta of 0.49. The stock has a fifty day moving average price of $20.43 and a two-hundred day moving average price of $18.46. CVB Financial has a 1-year low of $15.71 and a 1-year high of $24.58.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Analysts predict that CVB Financial will post 1.43 EPS for the current year.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors have recently made changes to their positions in CVBF. American Century Companies Inc. lifted its holdings in CVB Financial by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock valued at $100,221,000 after purchasing an additional 58,774 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after buying an additional 816,176 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVB Financial by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after buying an additional 181,769 shares during the period. Geode Capital Management LLC grew its stake in CVB Financial by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock worth $56,401,000 after acquiring an additional 15,628 shares during the period. Finally, Sei Investments Co. raised its holdings in CVB Financial by 2.9% in the 2nd quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock valued at $10,843,000 after acquiring an additional 17,483 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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.