Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $20.67

CVB Financial Corp. (NASDAQ:CVBF) has received a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.00.

Several research firms recently issued reports on CVBF. Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Wedbush reduced their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Finally, Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday.

Insider Activity

In other CVB Financial news, CFO E Allen Nicholson bought 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at $1,548,038.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CVB Financial news, CFO E Allen Nicholson bought 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at $1,548,038.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George A. Borba, Jr. acquired 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders acquired 63,601 shares of company stock worth $1,067,145 over the last three months. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently modified their holdings of CVBF. Goldman Sachs Group Inc. grew its holdings in shares of CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares during the period. Norges Bank purchased a new stake in shares of CVB Financial in the fourth quarter valued at about $29,134,000. American Century Companies Inc. grew its holdings in shares of CVB Financial by 44.1% in the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after purchasing an additional 1,204,090 shares during the period. Principal Financial Group Inc. grew its holdings in shares of CVB Financial by 56.4% in the fourth quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock valued at $58,848,000 after purchasing an additional 1,050,625 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CVB Financial by 16.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock valued at $86,619,000 after purchasing an additional 594,901 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

CVBF opened at $17.09 on Thursday. The firm has a fifty day moving average price of $17.02 and a 200 day moving average price of $17.70. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77. The stock has a market cap of $2.39 billion, a P/E ratio of 10.75 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The firm had revenue of $138.52 million during the quarter, compared to analysts’ expectations of $134.88 million. Equities analysts expect that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is 50.31%.

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.