CVB Financial Corp. (NASDAQ:CVBF) Receives $20.00 Average PT from Analysts

Shares of CVB Financial Corp. (NASDAQ:CVBF) have been assigned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.00.

A number of equities analysts have issued reports on the company. Wedbush increased their price target on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Stephens boosted their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd.

CVB Financial Price Performance

NASDAQ:CVBF opened at $18.19 on Wednesday. The company has a 50 day moving average price of $17.58 and a 200-day moving average price of $17.13. CVB Financial has a 1-year low of $14.62 and a 1-year high of $21.77. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 11.97 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, sell-side analysts anticipate that CVB Financial will post 1.4 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.20 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.40%. CVB Financial’s dividend payout ratio is presently 52.63%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. purchased 4,610 shares of the company’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the transaction, the director now directly owns 665,121 shares in the company, valued at $10,641,936. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director George A. Borba, Jr. acquired 4,610 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $73,760.00. Following the acquisition, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly H. Sheehy sold 2,961 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total value of $50,751.54. Following the transaction, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in CVB Financial in the 1st quarter valued at approximately $1,205,000. GSA Capital Partners LLP acquired a new position in CVB Financial during the 1st quarter worth $1,606,000. Dimensional Fund Advisors LP increased its holdings in CVB Financial by 16.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares during the period. Bessemer Group Inc. raised its position in CVB Financial by 7.3% in the 1st quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock valued at $9,629,000 after purchasing an additional 36,894 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of CVB Financial by 15.5% in the 1st quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,125 shares during the period. 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.