CVB Financial’s (CVBF) Equal Weight Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of CVB Financial (NASDAQ:CVBF) in a report released on Thursday,Benzinga reports. The brokerage currently has a $25.00 price target on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler decreased 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. Finally, Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and an average price target of $22.60.

CVB Financial Stock Performance

NASDAQ:CVBF opened at $20.66 on Thursday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 14.45 and a beta of 0.50. CVB Financial has a one year low of $15.71 and a one year high of $24.58. The business’s 50-day simple moving average is $22.06 and its 200 day simple moving average is $19.73.

CVB Financial (NASDAQ:CVBF) last announced its earnings results 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 return on equity of 9.80% and a net margin of 28.29%. On average, equities research analysts predict that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.87%. CVB Financial’s dividend payout ratio (DPR) is 55.56%.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of CVBF. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares during the period. SG Americas Securities LLC bought a new position in shares of CVB Financial during the third quarter worth about $107,000. KBC Group NV increased its holdings in shares of CVB Financial by 35.0% in the 4th 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 during the period. Finally, Blue Trust Inc. boosted its stake in CVB Financial by 17.7% during the 4th 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 during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.