Piper Sandler Has Lowered Expectations for CVB Financial (NASDAQ:CVBF) Stock Price

CVB Financial (NASDAQ:CVBF - Free Report) had its target price trimmed by Piper Sandler from $25.00 to $24.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider's stock.

Separately, Stephens reduced their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, CVB Financial has a consensus rating of "Hold" and a consensus price target of $23.50.

CVB Financial Price Performance

Shares of CVBF traded up $0.33 during trading hours on Monday, hitting $19.08. The company's stock had a trading volume of 671,669 shares, compared to its average volume of 808,393. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 13.25 and a beta of 0.62. The business has a 50 day simple moving average of $18.39 and a two-hundred day simple moving average of $20.27. CVB Financial has a 52-week low of $15.75 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $124.45 million. During the same quarter last year, the business posted $0.35 earnings per share. Research analysts predict that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. CVB Financial's dividend payout ratio is currently 55.17%.

Hedge Funds Weigh In On CVB Financial

Several institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased its holdings in CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after acquiring an additional 720 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of CVB Financial in the 4th quarter valued at about $53,000. Sterling Capital Management LLC lifted its position in CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after buying an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC raised its position in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after purchasing an additional 2,597 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of CVB Financial by 58.8% during the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock worth $83,000 after acquiring an additional 1,655 shares during the last quarter. Institutional investors own 74.18% of the company's stock.

CVB Financial Company Profile

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.