CVB Financial Corp. (NASDAQ:CVBF) Given Average Recommendation of “Hold” by Analysts

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

CVBF has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (up from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. Stephens boosted their target price on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Wedbush raised their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th.

CVB Financial Trading Up 2.5 %

Shares of NASDAQ CVBF opened at $18.57 on Friday. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 12.22 and a beta of 0.45. CVB Financial has a 12 month low of $14.62 and a 12 month high of $21.77. The stock has a 50-day moving average price of $17.96 and a two-hundred day moving average price of $17.22.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The business had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.31%. CVB Financial’s payout ratio is 52.63%.

Insider Transactions at CVB Financial

In other CVB Financial news, Director Kimberly H. Sheehy sold 2,961 shares of the stock in a transaction dated 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 sale, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently modified their holdings of CVBF. Arizona State Retirement System increased its stake in shares of CVB Financial by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased 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 valued at $250,000 after purchasing an additional 748 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of CVB Financial by 1.7% during 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 purchasing an additional 1,100 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of CVB Financial by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock worth $2,062,000 after purchasing an additional 1,299 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of 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 purchasing an additional 1,396 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

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.