CVB Financial Corporation (NASDAQ:CVBF) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CVB Financial Corporation (NASDAQ:CVBF) have earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.1250.

Several analysts have recently weighed in on CVBF shares. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Stephens restated an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Piper Sandler raised their target price on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 27th.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. bought 25,187 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the purchase, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVB Financial

Several large investors have recently modified their holdings of CVBF. HoldCo Asset Management LP lifted its position in shares of CVB Financial by 17,051.0% during the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the last quarter. Clifford Capital Partners LLC lifted its position in shares of CVB Financial by 3,800.6% during the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after purchasing an additional 648,229 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of CVB Financial by 71.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock worth $23,684,000 after purchasing an additional 507,228 shares during the last quarter. Weiss Asset Management LP bought a new position in CVB Financial in the first quarter worth about $8,303,000. Finally, Bernzott Capital Advisors bought a new position in CVB Financial in the first quarter worth about $8,054,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $20.81 on Tuesday. The business has a 50-day moving average of $20.41 and a 200-day moving average of $19.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $3.67 billion, a PE ratio of 13.69 and a beta of 0.66. CVB Financial has a 1-year low of $17.94 and a 1-year high of $21.63.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period last year, the firm earned $0.36 earnings per share. As a group, equities analysts forecast that CVB Financial will post 1.56 EPS for the current fiscal year.

CVB Financial Company Profile

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.