CVB Financial (NASDAQ:CVBF) Price Target Cut to $19.00

CVB Financial (NASDAQ:CVBF) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $20.00 to $19.00 in a report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 15.29% from the stock’s current price.

Other equities analysts have also issued reports about the company. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a research note on Thursday. Wedbush reiterated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a research report on Thursday. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research report on Monday, April 22nd. Finally, StockNews.com upgraded CVB Financial to a “sell” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.00.

CVB Financial Stock Down 0.2 %

Shares of NASDAQ CVBF opened at $16.48 on Friday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 0.46. The stock’s 50-day simple moving average is $16.98 and its two-hundred day simple moving average is $17.70. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, research analysts anticipate that CVB Financial will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. purchased 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the transaction, 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 can be accessed through the SEC website. In related news, Director George A. Borba, Jr. purchased 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the transaction, 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 can be accessed through the SEC website. Also, CFO E Allen Nicholson purchased 2,000 shares of CVB Financial stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the completion of 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. Insiders have purchased a total of 63,601 shares of company stock worth $1,067,145 in the last ninety days. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in CVB Financial in the 4th quarter worth approximately $36,000. GAMMA Investing LLC purchased a new stake in CVB Financial in the 4th quarter worth approximately $102,000. Headlands Technologies LLC purchased a new stake in CVB Financial in the 4th quarter worth approximately $122,000. Assetmark Inc. lifted its holdings in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock worth $174,000 after buying an additional 5,038 shares during the period. Finally, Covestor Ltd lifted its holdings in CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after buying an additional 885 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.