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

CVB Financial Corp. (NASDAQ:CVBF) has earned an average rating of “Hold” from the four ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.67.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut 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 note on Friday, January 26th. StockNews.com upgraded CVB Financial to a “sell” rating in a research note on Friday, January 5th. Finally, Wedbush reduced their price target on CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th.

CVB Financial Stock Up 0.6 %

CVBF opened at $15.85 on Thursday. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77. The business has a 50 day moving average of $17.07 and a 200-day moving average of $17.68. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.97 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The business had revenue of $138.52 million for the quarter, compared to analysts’ expectations of $134.88 million. As a group, analysts expect that CVB Financial will post 1.49 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is 50.31%.

Insider Activity

In other CVB Financial news, CFO E Allen Nicholson bought 2,000 shares of CVB Financial stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $16.77 per share, with a total value of $33,540.00. Following the acquisition, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director George A. Borba, Jr. bought 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the transaction, the chief financial officer now owns 92,310 shares in the company, valued at $1,548,038.70. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of CVB Financial by 96.0% during the second quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 860 shares during the period. Strs Ohio bought a new stake in CVB Financial in the 4th quarter valued at about $36,000. Point72 Hong Kong Ltd acquired a new position in CVB Financial during the 4th quarter worth approximately $42,000. Royal Bank of Canada boosted its holdings in CVB Financial by 277.7% in the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new stake in CVB Financial in the fourth quarter valued at approximately $92,000. 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.