CVB Financial Corp. (NASDAQ:CVBF) Receives $22.20 Consensus PT from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.20.

A number of research firms have recently issued reports on CVBF. Keefe, Bruyette & Woods boosted their price objective on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Stephens lowered their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler lowered their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVBF. Capital Research Global Investors acquired a new position in shares of CVB Financial during the fourth quarter worth about $94,382,000. Massachusetts Financial Services Co. MA acquired a new position in CVB Financial during the fourth quarter valued at approximately $31,064,000. Norges Bank acquired a new position in CVB Financial during the fourth quarter valued at approximately $27,724,000. Victory Capital Management Inc. boosted its position in CVB Financial by 210.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock valued at $31,858,000 after purchasing an additional 1,009,146 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in CVB Financial during the third quarter valued at approximately $8,653,000. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Stock Performance

Shares of CVBF stock opened at $20.28 on Wednesday. The stock’s 50 day simple moving average is $21.18 and its 200 day simple moving average is $19.96. CVB Financial has a twelve month low of $15.71 and a twelve month high of $24.58. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 14.08 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, analysts forecast that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. CVB Financial’s dividend payout ratio (DPR) is currently 55.56%.

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.