Shares of CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $26.25.
CVBF has been the subject of several recent research reports. Wall Street Zen raised CVB Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Raymond James Financial raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised shares of CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Stephens upgraded shares of CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 target price for the company in a research report on Thursday, August 6th. Finally, DA Davidson raised their price target on shares of CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th.
Read Our Latest Analysis on CVB Financial
Insider Transactions at CVB Financial
In related news, COO David C. Harvey sold 40,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the transaction, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mike Maddox acquired 10,000 shares of the stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the purchase, the director directly owned 13,138 shares of the company's stock, valued at $289,430.14. The trade was a 318.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.40% of the company's stock.
Institutional Trading of CVB Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its position in shares of CVB Financial by 16.9% during the 2nd quarter. QRG Capital Management Inc. now owns 12,276 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 1,776 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in CVB Financial during the second quarter worth about $4,900,000. Integrated Wealth Concepts LLC purchased a new position in CVB Financial during the second quarter worth about $186,000. Allworth Financial LP raised its stake in CVB Financial by 49.0% during the second quarter. Allworth Financial LP now owns 6,271 shares of the financial services provider's stock worth $141,000 after purchasing an additional 2,062 shares during the period. Finally, Arizona State Retirement System boosted its holdings in CVB Financial by 30.3% in the 2nd quarter. Arizona State Retirement System now owns 46,088 shares of the financial services provider's stock valued at $1,039,000 after purchasing an additional 10,716 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.
CVB Financial Price Performance
NASDAQ:CVBF opened at $22.30 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50 day moving average price of $22.57 and a 200-day moving average price of $21.25. CVB Financial has a 1-year low of $17.94 and a 1-year high of $23.41. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 15.38 and a beta of 0.64.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 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 business had revenue of $179.43 million during the quarter, compared to analysts' expectations of $184.62 million. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts forecast that CVB Financial will post 1.74 EPS for the current year.
CVB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 30th. CVB Financial's dividend payout ratio (DPR) is 55.17%.
CVB Financial Company Profile
(
Get Free Report)
CVB Financial Corp. is the bank holding company for Citizens Business Bank, a commercial bank headquartered in Ontario, California. Founded in 1974, the company provides banking and financial services primarily to businesses, professionals, individuals and public-sector organizations throughout California.
Citizens Business Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration loans, agricultural lending and consumer credit products.
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