CVB Financial Corporation (NASDAQ:CVBF) Stock Has Consensus Price Target of $26.50 According to Analysts

Key Points

• Analysts give CVB Financial a “Moderate Buy” consensus: Four of five covering analysts rate the stock a buy, and the average 12-month price target is $26.50.
• The company reported quarterly EPS of $0.44, slightly below the $0.45 consensus, while revenue of $195.56 million topped estimates of $192.80 million.
• CVB Financial pays a quarterly dividend of $0.20, equivalent to $0.80 annually and a 3.6% yield.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.50.

Several brokerages have weighed in on CVBF. DA Davidson upped their price target on CVB Financial from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, November 9th. Stephens upgraded shares of CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 target price on the stock in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 26th. Wall Street Zen raised shares of CVB Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Piper Sandler lifted their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th.

CVB Financial Stock Performance

Shares of CVB Financial stock opened at $22.52 on Friday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 14.91 and a beta of 0.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.76 and a quick ratio of 0.77. The business has a 50-day moving average of $22.37 and a 200 day moving average of $21.29. CVB Financial has a 12 month low of $18.10 and a 12 month high of $23.95.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $195.56 million during the quarter, compared to analysts' expectations of $192.80 million. CVB Financial had a net margin of 29.54% and a return on equity of 9.42%. During the same period in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts forecast that CVB Financial will post 1.77 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. CVB Financial's dividend payout ratio is currently 52.98%.

Insider Buying and Selling at CVB Financial

In related news, Director Mike Maddox bought 10,000 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $22.03 per share, with a total value of $220,300.00. Following the transaction, the director directly owned 13,138 shares of the company's stock, valued at approximately $289,430.14. This represents a 318.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On CVB Financial

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of CVB Financial during the second quarter worth about $579,285,000. Dimensional Fund Advisors LP boosted its position in shares of CVB Financial by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider's stock valued at $147,620,000 after purchasing an additional 331,307 shares during the period. Bessemer Group Inc. grew its stake in CVB Financial by 16.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,738,299 shares of the financial services provider's stock worth $37,565,000 after buying an additional 246,216 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in CVB Financial during the 2nd quarter worth approximately $38,066,000. Finally, The Manufacturers Life Insurance Company acquired a new position in CVB Financial during the second quarter worth approximately $29,928,000. Institutional investors and hedge funds own 74.18% of the company's stock.

About CVB Financial

CVB Financial Corporation is the bank holding company for Citizens Business Bank, a California-based financial institution founded in 1974. The bank serves businesses, professionals, individuals and nonprofit organizations, with a strong presence in Southern California and operations in other parts of the state. Citizens Business Bank provides commercial and small-business banking, including deposit accounts, business loans, commercial real estate financing and cash-management services. It also offers personal banking and trust and wealth-management services.

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