CVB Financial Corp. (NASDAQ:CVBF) Receives Consensus Rating of “Hold” from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been given an average rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $21.80.

CVBF has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st.

Hedge Funds Weigh In On CVB Financial

Hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC raised its holdings in CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 545 shares in the last quarter. Arizona State Retirement System raised its stake in shares of CVB Financial by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of CVB Financial by 5.4% in 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 buying an additional 748 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after buying an additional 780 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in CVB Financial by 4.7% during the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after buying an additional 859 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 1.1 %

CVBF opened at $21.71 on Tuesday. The stock has a market cap of $3.03 billion, a P/E ratio of 15.18 and a beta of 0.49. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The company has a fifty day simple moving average of $21.99 and a 200 day simple moving average of $19.28.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. During the same period in the prior year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts expect that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.68%. CVB Financial’s payout ratio is currently 55.94%.

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.