CVB Financial Corporation (NASDAQ:CVBF) Stock Has Average Price Target of $26.25

Key Points

• Analysts give CVB Financial a “Moderate Buy” consensus, with four buy ratings and one hold rating. The average 12-month price target is $26.25, above the stock’s reported $21.85 price.
• CVB Financial’s latest quarterly results slightly missed expectations, with EPS of $0.29 versus the $0.30 estimate and revenue of $179.43 million versus $184.62 million expected.
• The company pays a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 dividend and a 3.7% yield. Institutional investors own 74.18% of outstanding shares.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.25.

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of CVB Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. DA Davidson boosted their target price on shares of CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Raymond James Financial raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a report on Wednesday, July 1st. Stephens upgraded shares of CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 price target on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of CVB Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th.

Insider Transactions at CVB Financial

In other news, COO David Harvey sold 40,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total value of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares in the company, valued at $2,251,538.06. This represents a 28.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mike Maddox bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the acquisition, the director owned 13,138 shares in the company, valued at $289,430.14. This trade represents a 318.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of CVB Financial

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of CVB Financial during the 2nd quarter valued at about $579,285,000. Bank of New York Mellon Corp bought a new position in shares of CVB Financial during the 2nd quarter valued at approximately $38,066,000. The Manufacturers Life Insurance Company purchased a new stake in CVB Financial in the 2nd quarter worth approximately $29,928,000. Bank of America Corp DE purchased a new stake in CVB Financial in the 2nd quarter worth approximately $20,882,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in CVB Financial by 71.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider's stock worth $23,684,000 after acquiring an additional 507,228 shares in the last quarter. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Down 0.1%

CVBF stock opened at $21.85 on Tuesday. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 15.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The business's 50-day moving average is $22.30 and its two-hundred day moving average is $21.59. CVB Financial has a fifty-two week low of $18.01 and a fifty-two week high of $23.41.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, analysts forecast that CVB Financial will post 1.74 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. CVB Financial's payout ratio is presently 55.17%.

CVB Financial Company Profile

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.

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