Stephens Reaffirms “Equal Weight” Rating for CVB Financial (NASDAQ:CVBF)

CVB Financial (NASDAQ:CVBF)‘s stock had its “equal weight” rating reaffirmed by Stephens in a research note issued on Thursday,Benzinga reports. They presently have a $25.00 price target on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 21.92% from the company’s previous close.

A number of other brokerages have also recently commented on CVBF. Piper Sandler reduced their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.60.

CVB Financial Stock Performance

Shares of CVBF stock traded down $0.19 during mid-day trading on Thursday, hitting $20.51. The company’s stock had a trading volume of 170,804 shares, compared to its average volume of 771,215. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 14.34 and a beta of 0.50. The business has a 50-day moving average price of $22.06 and a 200 day moving average price of $19.73.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. Equities research analysts predict that CVB Financial will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On CVB Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC raised its stake in CVB Financial by 2.1% in the 3rd 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 during the last quarter. Vanguard Personalized Indexing Management LLC raised 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 worth $250,000 after buying an additional 748 shares during the period. GAMMA Investing LLC grew its stake in CVB Financial by 21.7% in 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 period. AlphaMark Advisors LLC increased its holdings in CVB Financial by 4.7% in the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 859 shares in the last quarter. Finally, Blue Trust Inc. raised its position in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 918 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.