CVB Financial (NASDAQ:CVBF) Given New $23.00 Price Target at Stephens

CVB Financial (NASDAQ:CVBF) had its target price dropped by analysts at Stephens from $25.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 10.98% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.20.

CVB Financial Trading Up 0.3 %

Shares of CVBF opened at $20.73 on Monday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 14.44 and a beta of 0.50. CVB Financial has a 1-year low of $15.71 and a 1-year high of $24.58. The company’s fifty day simple moving average is $21.99 and its 200 day simple moving average is $19.80.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.41%. As a group, research analysts forecast that CVB Financial will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in CVB Financial in the 3rd quarter worth about $8,653,000. JPMorgan Chase & Co. increased its holdings in CVB Financial by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after acquiring an additional 74,004 shares during the last quarter. Jane Street Group LLC increased its holdings in CVB Financial by 11.8% in the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after acquiring an additional 14,384 shares during the last quarter. Citigroup Inc. increased its holdings in CVB Financial by 9.8% in the 3rd quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after acquiring an additional 23,682 shares during the last quarter. Finally, Barclays PLC increased its holdings in CVB Financial by 79.5% in the 3rd quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after acquiring an additional 128,869 shares during the last quarter. 74.18% of the stock is currently 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.