CVB Financial Corporation (NASDAQ:CVBF) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is constructive: CVB Financial has a consensus rating of “Moderate Buy” from six analysts, with four buy ratings and two holds. The average 12-month price target is $24.30.
• Recent commentary has leaned positive: Raymond James upgraded the stock to outperform with a $25 target, while Piper Sandler raised its target to $27 and kept an overweight rating.
• The company continues to reward shareholders: CVB Financial announced a quarterly dividend of $0.20 per share, or $0.80 annually, implying a 3.6% yield. The payout is scheduled for July 23, with shares trading near $22.47.

Shares of CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) have received an average rating of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.30.

A number of analysts recently commented on the company. Raymond James Financial upgraded CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. Piper Sandler raised their target price on CVB Financial from $26.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Stephens reiterated an "equal weight" rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of CVB Financial in a research note on Wednesday.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 25,187 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the transaction, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd grew its holdings in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of CVB Financial in the fourth quarter valued at $42,000. Larson Financial Group LLC lifted its position in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider's stock valued at $45,000 after buying an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider's stock valued at $47,000 after buying an additional 695 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of CVB Financial during the 2nd quarter worth $103,000. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Up 0.5%

CVBF stock traded up $0.12 during trading on Friday, reaching $22.47. The stock had a trading volume of 1,198,811 shares, compared to its average volume of 1,806,817. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.78 and a beta of 0.65. CVB Financial has a one year low of $17.94 and a one year high of $23.33. The company's 50 day moving average is $21.00 and its two-hundred day moving average is $20.19.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts' consensus estimates of $0.38. The firm had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts forecast that CVB Financial will post 1.63 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, July 9th. CVB Financial's dividend payout ratio (DPR) is 52.63%.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company's core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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