CVB Financial (NASDAQ:CVBF) Earns “Equal Weight” Rating from Stephens

Stephens reissued their equal weight rating on shares of CVB Financial (NASDAQ:CVBF) in a research report report published on Thursday, Benzinga reports. They currently have a $20.00 price target on the financial services provider’s stock.

Several other research firms have also recently weighed in on CVBF. Hovde Group cut shares of CVB Financial from an outperform rating to a market perform rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of CVB Financial from $22.00 to $20.00 and set a market perform rating for the company in a research report on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a sell rating in a research report on Friday, January 5th. Finally, Wedbush restated a neutral rating and issued a $19.00 price objective on shares of CVB Financial in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $19.00.

CVB Financial Trading Down 0.2 %

NASDAQ:CVBF opened at $16.48 on Thursday. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77. The firm has a 50 day moving average of $16.98 and a 200-day moving average of $17.70. The stock has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. During the same quarter in the previous year, the company posted $0.42 EPS. CVB Financial’s revenue was down 8.9% on a year-over-year basis. As a group, analysts forecast that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 52.63%.

Insiders Place Their Bets

In other CVB Financial news, CEO David A. Brager bought 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO David A. Brager purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Borba, Jr. purchased 59,601 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 63,601 shares of company stock valued at $1,067,145. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Several institutional investors and hedge funds have recently made changes to their positions in CVBF. SG Americas Securities LLC acquired a new position in shares of CVB Financial in the 3rd quarter valued at $1,987,000. Raymond James & Associates lifted its position in CVB Financial by 102.3% in the 3rd quarter. Raymond James & Associates now owns 34,744 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 17,566 shares in the last quarter. Bank of New York Mellon Corp lifted its position in CVB Financial by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock valued at $34,703,000 after acquiring an additional 183,583 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in CVB Financial by 5.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,924 shares of the financial services provider’s stock valued at $1,192,000 after acquiring an additional 4,039 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in CVB Financial by 6.1% in the 3rd quarter. Yousif Capital Management LLC now owns 66,617 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 3,841 shares in the last quarter. 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.