CVB Financial (NASDAQ:CVBF) Given New $20.00 Price Target at Wedbush

CVB Financial (NASDAQ:CVBF) had its target price trimmed by Wedbush from $21.00 to $20.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q4 2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS and FY2026 earnings at $1.60 EPS.

A number of other brokerages have also commented on CVBF. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. Stephens upped their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $19.75.

CVB Financial Stock Up 0.5 %

Shares of NASDAQ CVBF opened at $17.73 on Tuesday. The business’s 50 day moving average price is $17.88 and its 200 day moving average price is $17.23. The firm has a market cap of $2.48 billion, a P/E ratio of 11.66 and a beta of 0.45. CVB Financial has a 52 week low of $14.62 and a 52 week high of $21.77.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. CVB Financial’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, research analysts expect that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, September 30th. CVB Financial’s payout ratio is 52.63%.

Insider Transactions at CVB Financial

In other news, Director Kimberly H. Sheehy sold 2,961 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares of the company’s stock, valued at approximately $225,493.84. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. nVerses Capital LLC raised its stake in shares of CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,400 shares during the period. Versant Capital Management Inc raised its stake in CVB Financial by 832.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,574 shares during the last quarter. Innealta Capital LLC acquired a new position in CVB Financial in the 2nd quarter valued at $38,000. Assetmark Inc. raised its stake in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares during the last quarter. Finally, WBI Investments LLC acquired a new position in CVB Financial in the 2nd quarter valued at $177,000. 74.18% of the stock is owned by institutional investors and hedge funds.

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.