CVB Financial’s (CVBF) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

CVB Financial (NASDAQ:CVBF)‘s stock had its “market perform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $20.00 price target on the financial services provider’s stock, up from their prior price target of $19.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 1.21% from the stock’s previous close.

CVBF has been the topic of a number of other reports. Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Wedbush upped their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Janney Montgomery Scott downgraded shares of CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus target price of $19.75.

CVB Financial Stock Up 1.6 %

CVB Financial stock opened at $19.76 on Friday. The company’s 50-day moving average price is $17.12 and its 200-day moving average price is $17.26. CVB Financial has a twelve month low of $14.62 and a twelve month high of $21.77. The company has a market cap of $2.76 billion, a PE ratio of 13.00 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.51%. The firm had revenue of $125.27 million for the quarter, compared to the consensus estimate of $126.86 million. During the same period in the previous year, the firm posted $0.40 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts expect that CVB Financial will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CVB Financial news, Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George A. Borba, Jr. purchased 34,200 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $15.99 per share, with a total value of $546,858.00. Following the transaction, the director now directly owns 660,511 shares in the company, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 39,910 shares of company stock valued at $638,669. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of CVBF. Raymond James & Associates lifted its position in CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 854 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in shares of CVB Financial in the fourth quarter worth $293,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CVB Financial by 8.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,791 shares of the financial services provider’s stock worth $1,571,000 after buying an additional 5,867 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of CVB Financial by 6.5% in the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after buying an additional 1,705 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of CVB Financial by 6.7% in the fourth quarter. Cerity Partners LLC now owns 56,144 shares of the financial services provider’s stock worth $1,134,000 after buying an additional 3,502 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.