CVB Financial Corp. (NASDAQ:CVBF) Receives Consensus Rating of "Hold" from Brokerages

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has been given an average recommendation of "Hold" by the four ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.67.

Several research firms have weighed in on CVBF. StockNews.com upgraded shares of CVB Financial to a "sell" rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods lowered their price objective on shares of CVB Financial from $22.00 to $20.00 and set a "market perform" rating for the company in a research report on Friday, January 26th. Finally, Wedbush lowered their price objective on shares of CVB Financial from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, January 25th.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. purchased 59,601 shares of the business's stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other CVB Financial news, Director George A. Borba, Jr. acquired 59,601 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the transaction, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David A. Brager acquired 2,000 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares of the company's stock, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders have bought 63,601 shares of company stock valued at $1,067,145 in the last 90 days. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors have recently added to or reduced their stakes in CVBF. FMR LLC increased its holdings in shares of CVB Financial by 96.0% in the second quarter. FMR LLC now owns 1,756 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 860 shares during the last quarter. Strs Ohio acquired a new position in shares of CVB Financial in the fourth quarter valued at $36,000. Point72 Hong Kong Ltd acquired a new position in shares of CVB Financial in the fourth quarter valued at $42,000. Royal Bank of Canada increased its holdings in shares of CVB Financial by 277.7% in the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of CVB Financial in the fourth quarter valued at $92,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Trading Up 0.8 %

Shares of CVB Financial stock traded up $0.13 during mid-day trading on Thursday, reaching $15.98. 674,344 shares of the stock were exchanged, compared to its average volume of 900,571. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 10.05 and a beta of 0.46. The firm has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $17.67. CVB Financial has a fifty-two week low of $10.66 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $138.52 million during the quarter, compared to analysts' expectations of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. On average, research analysts predict that CVB Financial will post 1.49 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Tuesday, April 2nd. CVB Financial's dividend payout ratio is 50.31%.

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.