Analysts Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $21.80

Shares of CVB Financial Corp. (NASDAQ:CVBF) have earned an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.80.

A number of research firms have commented on CVBF. Keefe, Bruyette & Woods upped their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Finally, Piper Sandler dropped their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st.

Hedge Funds Weigh In On CVB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of CVB Financial in the 3rd quarter worth about $27,000. GAMMA Investing LLC boosted its stake in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares in the last quarter. KBC Group NV boosted its stake in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 1,556 shares in the last quarter. SG Americas Securities LLC purchased a new stake in CVB Financial in the third quarter worth about $107,000. Finally, Blue Trust Inc. increased its stake in shares of CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.3 %

Shares of NASDAQ CVBF opened at $20.69 on Friday. The firm’s fifty day moving average is $22.10 and its 200 day moving average is $19.72. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 14.47 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. Equities research analysts anticipate that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.87%. CVB Financial’s payout ratio is 55.94%.

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.