Keefe, Bruyette & Woods Cuts CVB Financial (NASDAQ:CVBF) Price Target to $19.00

CVB Financial (NASDAQ:CVBF) had its price target cut by Keefe, Bruyette & Woods from $20.00 to $19.00 in a research report report published on Friday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

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

CVB Financial Trading Down 0.2 %

Shares of CVB Financial stock opened at $16.48 on Friday. CVB Financial has a 12 month low of $10.66 and a 12 month high of $21.77. The stock’s fifty day simple moving average is $16.98 and its 200 day simple moving average is $17.71. The company has a market capitalization of $2.30 billion, a PE ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) 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 company had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was down 8.9% compared to the same quarter last year. Analysts predict that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Insider Buying and Selling at CVB Financial

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

Hedge Funds Weigh In On CVB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of CVB Financial by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock worth $59,558,000 after buying an additional 213,038 shares during the period. Equitable Trust Co. boosted its holdings in shares of CVB Financial by 8.3% during the third quarter. Equitable Trust Co. now owns 26,074 shares of the financial services provider’s stock worth $432,000 after acquiring an additional 1,994 shares during the period. Illinois Municipal Retirement Fund acquired a new position in shares of CVB Financial in the third quarter valued at approximately $1,243,000. Victory Capital Management Inc. increased its stake in shares of CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock worth $6,909,000 after purchasing an additional 375,426 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in CVB Financial by 3.3% during the 3rd quarter. GSA Capital Partners LLP now owns 96,122 shares of the financial services provider’s stock worth $1,593,000 after purchasing an additional 3,112 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.