CVB Financial’s (CVBF) “Neutral” Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of CVB Financial (NASDAQ:CVBF) in a research note published on Thursday, Benzinga reports. The firm currently has a $19.00 price target on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q2 2024 earnings at $0.34 EPS, Q3 2024 earnings at $0.37 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.43 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.40 EPS.

A number of other brokerages have also recently commented on CVBF. Keefe, Bruyette & Woods reduced 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 report on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a sell rating in a research report on Friday, January 5th. 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $19.25.

CVB Financial Stock Performance

NASDAQ:CVBF opened at $16.51 on Thursday. The company has a fifty day moving average of $17.00 and a two-hundred day moving average of $17.69. The stock has a market capitalization of $2.31 billion, a PE ratio of 10.86 and a beta of 0.46. CVB Financial has a fifty-two week low of $10.66 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.94%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Research analysts forecast that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insiders Place Their Bets

In other CVB Financial news, CEO David A. Brager acquired 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the completion of the purchase, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CVB Financial news, CEO David A. Brager acquired 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the completion of the purchase, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George A. Borba, Jr. acquired 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now 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 purchased a total of 63,601 shares of company stock valued at $1,067,145 over the last 90 days. 6.00% of the stock is owned by company insiders.

Institutional Trading of CVB Financial

Several hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in CVB Financial by 6.5% in the first quarter. Diversified Trust Co now owns 39,480 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 2,394 shares in the last quarter. Vanguard Group Inc. raised its holdings in CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 1,994,369 shares in the last quarter. Woodward Diversified Capital LLC acquired a new stake in CVB Financial in the fourth quarter valued at approximately $392,000. Finally, Schroder Investment Management Group raised its holdings in CVB Financial by 12.5% in the fourth quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock valued at $17,425,000 after acquiring an additional 95,970 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

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.