CVB Financial - CVBF Stock Forecast, Price & News

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. The company also provides commercial lending products comprising lines of credit and other working capital financing, accounts receivable lending, and letters of credit; agriculture loans to finance the operating needs of wholesale dairy farm operations, cattle feeders, livestock raisers, and farmers; lease financing services for municipal governments; commercial real estate and construction loans; and consumer financing products, including automobile leasing and financing, lines of credit, credit cards, home mortgages, and home equity loans and lines of credit. In addition, it offers various specialized services, such as treasury management systems for monitoring cash flow, merchant card processing program, armored pick-up and delivery, payroll services, remote deposit capture, electronic funds transfers, wires and automated clearinghouse, and online account access. Further, the company provides trust services through its CitizensTrust Division, such as fiduciary services, mutual funds, annuities, 401(k) plans, and individual investment accounts. As of December 31, 2021, it operated 58 banking centers located in the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California; and three trust offices located in Ontario, Newport Beach, and Pasadena, as well as two loan production offices in California's Central Valley and the Sacramento area. The company was founded in 1974 and is headquartered in Ontario, California.

Analysts Set New Price Targets

CVBF has been the subject of a number of recent research reports. Wedbush upped their target price on CVB Financial to $26.00 in a report on Monday, July 25th. StockNews.com upgraded shares of CVB Financial from a "sell" rating to a "hold" rating in a report on Thursday, July 21st.

CVB Financial Stock Up 1.7 %

CVB Financial stock opened at $27.63 on Friday. CVB Financial has a 52 week low of $18.72 and a 52 week high of $27.66. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 19.06 and a beta of 0.37. The business has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $24.05.

CVB Financial (NASDAQ:CVBF - Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. CVB Financial had a return on equity of 9.85% and a net margin of 40.88%. The business had revenue of $136.61 million for the quarter, compared to analyst estimates of $131.40 million. During the same period last year, the company earned $0.38 EPS. On average, research analysts anticipate that CVB Financial will post 1.65 earnings per share for the current year.

CVB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.19 dividend. This is a boost from CVB Financial's previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, June 29th. This represents a $0.76 dividend on an annualized basis and a yield of 2.75%. CVB Financial's payout ratio is presently 52.41%.

Insider Activity at CVB Financial

In other news, Director Anna Kan sold 7,000 shares of the firm's stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $24.20, for a total value of $169,400.00. Following the transaction, the director now directly owns 24,975 shares in the company, valued at approximately $604,395. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.40% of the stock is owned by insiders.