Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) PT at $22.20

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average rating of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.20.

A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Stephens reduced their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $20.28 on Wednesday. CVB Financial has a one year low of $15.71 and a one year high of $24.58. The stock has a fifty day moving average of $21.24 and a 200-day moving average of $19.94. The company has a market capitalization of $2.83 billion, a PE ratio of 14.08 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, research analysts forecast that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

Hedge Funds Weigh In On CVB Financial

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in CVB Financial during the third quarter worth $8,653,000. JPMorgan Chase & Co. increased its position in CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after buying an additional 74,004 shares during the last quarter. Jane Street Group LLC increased its position in CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after buying an additional 14,384 shares during the last quarter. Nisa Investment Advisors LLC increased its position in CVB Financial by 22.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock worth $1,131,000 after buying an additional 9,600 shares during the last quarter. Finally, Citigroup Inc. increased its position in CVB Financial by 9.8% during the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after buying an additional 23,682 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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.