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

CVB Financial Corp. (NASDAQ:CVBF) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of equities research analysts have recently issued reports on CVBF shares. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research note on Monday. StockNews.com upgraded CVB Financial to a “sell” rating in a report on Friday, January 5th. Wedbush reduced their target price 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. Finally, Keefe, Bruyette & Woods decreased their target price on CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, January 26th.

CVB Financial Stock Performance

Shares of CVBF opened at $16.47 on Thursday. The firm has a market cap of $2.30 billion, a P/E ratio of 10.36 and a beta of 0.46. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77. The firm’s 50 day moving average price is $17.01 and its two-hundred day moving average price is $17.70.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) 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 analyst estimates of $134.88 million. On average, sell-side analysts anticipate that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.86%. CVB Financial’s dividend payout ratio (DPR) is currently 50.31%.

Insider Buying and Selling

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

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVBF. Strs Ohio bought a new position in shares of CVB Financial in the 4th quarter valued at $36,000. GAMMA Investing LLC acquired a new stake in shares of CVB Financial during the fourth quarter valued at about $102,000. Headlands Technologies LLC bought a new stake in shares of CVB Financial during the fourth quarter worth about $122,000. Assetmark Inc. increased its stake in shares of CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the period. Finally, Covestor Ltd grew its holdings in CVB Financial by 11.2% during the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

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.