CVB Financial Corporation (NASDAQ:CVBF) Receives Consensus Rating of “Hold” from Analysts

Shares of CVB Financial Corporation (NASDAQ:CVBF) have received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.8750.

A number of equities analysts recently issued reports on the company. DA Davidson raised their price target on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Friday, December 19th. Wall Street Zen cut CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research note on Monday, December 29th.

CVB Financial Price Performance

CVBF stock opened at $19.07 on Tuesday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 13.06 and a beta of 0.68. The company has a fifty day moving average price of $19.33 and a 200 day moving average price of $19.51. CVB Financial has a 12 month low of $16.01 and a 12 month high of $21.41.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The company had revenue of $128.58 million for the quarter, compared to analyst estimates of $131.10 million. As a group, analysts anticipate that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 13th. Investors of record on Monday, December 29th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, December 29th. CVB Financial’s dividend payout ratio (DPR) is 54.79%.

Insider Buying and Selling

In other news, Director George A. Borba, Jr. acquired 27,094 shares of the business’s stock in a transaction on Friday, November 14th. The stock was bought at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the transaction, the director owned 745,782 shares in the company, valued at $13,759,677.90. This represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CVB Financial in the 4th quarter worth approximately $214,000. Tudor Investment Corp ET AL grew its holdings in CVB Financial by 139.4% in the third quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after purchasing an additional 58,882 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in CVB Financial in the third quarter valued at $267,000. CANADA LIFE ASSURANCE Co increased its position in shares of CVB Financial by 2.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 120,102 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 2,652 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its stake in shares of CVB Financial by 127.0% during the 3rd quarter. Dark Forest Capital Management LP now owns 178,361 shares of the financial services provider’s stock worth $3,373,000 after buying an additional 99,790 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.