CVB Financial (NASDAQ:CVBF) Price Target Cut to $20.00 by Analysts at Wedbush

CVB Financial (NASDAQ:CVBF) had its price target lowered by Wedbush from $21.00 to $20.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q4 2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS and FY2026 earnings at $1.60 EPS.

A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods restated a market perform rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a report on Friday, July 26th. Stephens upped their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an equal weight rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $19.75.

CVB Financial Trading Up 0.6 %

NASDAQ:CVBF opened at $17.65 on Tuesday. The firm’s fifty day simple moving average is $17.91 and its 200 day simple moving average is $17.22. CVB Financial has a twelve month low of $14.62 and a twelve month high of $21.77. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.68 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts predict that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.53%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insiders Place Their Bets

In other news, Director Kimberly H. Sheehy sold 2,961 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.00% of the stock is owned by company insiders.

Institutional Trading of CVB Financial

Several institutional investors have recently added to or reduced their stakes in CVBF. Arizona State Retirement System grew its holdings in CVB Financial by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in CVB Financial by 5.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 748 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in CVB Financial by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $1,150,000 after buying an additional 1,100 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in CVB Financial by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock valued at $2,062,000 after buying an additional 1,299 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in CVB Financial by 1.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock worth $2,041,000 after buying an additional 1,396 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.