Wedbush Reiterates Neutral Rating for CVB Financial (NASDAQ:CVBF)

CVB Financial (NASDAQ:CVBF)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $20.00 target price on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 4.38% from the company’s previous close.

Several other brokerages have also commented on CVBF. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Stephens upped their price objective on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus price target of $20.25.

CVB Financial Trading Up 0.9 %

Shares of CVBF stock traded up $0.17 on Thursday, reaching $19.16. 46,880 shares of the stock were exchanged, compared to its average volume of 826,734. CVB Financial has a twelve month low of $14.62 and a twelve month high of $21.77. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 12.61 and a beta of 0.45. The business’s 50 day moving average price is $18.02 and its 200 day moving average price is $17.42.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. CVB Financial’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Equities research analysts forecast that CVB Financial will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently modified their holdings of CVBF. Arizona State Retirement System lifted its stake in CVB Financial by 1.9% in the second quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of CVB Financial by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 748 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares during the last quarter. AlphaMark Advisors LLC increased its position in CVB Financial by 4.7% during the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 859 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in CVB Financial by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $1,150,000 after acquiring an additional 1,100 shares in the last quarter. 74.18% of the stock is currently 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.