CVB Financial (NASDAQ:CVBF) Price Target Raised to $21.00 at Wedbush

CVB Financial (NASDAQ:CVBF) had its price objective increased by Wedbush from $18.00 to $21.00 in a research report sent to investors on Thursday, Benzinga reports. Wedbush currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.39 EPS and FY2025 earnings at $1.50 EPS.

A number of other analysts have also commented on the company. Stephens reaffirmed an equal weight rating and issued a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on CVB Financial from $20.00 to $19.00 and set a market perform rating on the stock in a research report on Friday, April 26th. Hovde Group cut 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. Finally, Janney Montgomery Scott lowered shares of CVB Financial from a buy rating to a neutral rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $19.75.

CVB Financial Trading Up 1.6 %

Shares of CVB Financial stock opened at $19.76 on Thursday. The company has a market cap of $2.76 billion, a P/E ratio of 13.00 and a beta of 0.47. The business has a 50-day moving average price of $17.12 and a two-hundred day moving average price of $17.26. CVB Financial has a 1-year low of $14.62 and a 1-year high of $21.77.

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

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.05%. CVB Financial’s payout ratio is presently 52.63%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. purchased 4,610 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average cost of $16.00 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George A. Borba, Jr. bought 4,610 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the purchase, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. purchased 34,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $15.99 per share, for a total transaction of $546,858.00. Following the transaction, the director now directly owns 660,511 shares in the company, valued at $10,561,570.89. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 39,910 shares of company stock worth $638,669. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in CVB Financial during the 1st quarter valued at $1,205,000. GSA Capital Partners LLP purchased a new stake in CVB Financial during the 1st quarter worth about $1,606,000. Dimensional Fund Advisors LP lifted 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 in the last quarter. Sei Investments Co. boosted its stake in CVB Financial by 15.5% in the 1st quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock worth $10,908,000 after purchasing an additional 82,125 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in CVB Financial during the 4th quarter valued at about $268,000. 74.18% of the stock is owned by 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.