CVB Financial’s (CVBF) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of CVB Financial (NASDAQ:CVBF) in a research report report published on Friday morning, Benzinga reports. They currently have a $20.00 target price on the financial services provider’s stock, up from their prior target price of $19.00.

Other analysts have also issued research reports about the stock. Stephens reissued an equal weight rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Hovde Group lowered shares of CVB Financial from an outperform rating to a market perform rating and set a $18.00 price target on the stock. in a research report on Monday, April 22nd. Janney Montgomery Scott lowered shares of CVB Financial from a buy rating to a neutral rating in a research report on Wednesday, May 22nd. Finally, Wedbush boosted their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $20.00.

CVB Financial Stock Down 4.9 %

CVBF opened at $19.05 on Friday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 12.53 and a beta of 0.47. CVB Financial has a twelve month low of $14.62 and a twelve month 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.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The company had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, July 11th. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insider Buying and Selling

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

Institutional Investors Weigh In On CVB Financial

A number of institutional investors have recently made changes to their positions in CVBF. Goldman Sachs Group Inc. boosted its stake in shares of CVB Financial by 104.8% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of CVB Financial in the 4th quarter valued at $29,134,000. Principal Financial Group Inc. boosted its stake in shares of CVB Financial by 56.4% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CVB Financial by 16.1% in the 4th 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 in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of CVB Financial by 368.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock valued at $14,559,000 after purchasing an additional 567,321 shares in the last quarter. Hedge funds and other institutional investors 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.