CVB Financial Corp. (NASDAQ:CVBF) Receives $22.20 Consensus Target Price from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.20.

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped 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. Stephens cut their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th.

CVB Financial Trading Up 2.0 %

CVBF stock opened at $18.78 on Friday. The company has a market capitalization of $2.62 billion, a PE ratio of 13.04 and a beta of 0.46. CVB Financial has a 12-month low of $15.71 and a 12-month high of $24.58. The business’s fifty day moving average price is $20.17 and its 200 day moving average price is $20.27.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Research analysts predict that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.26%. CVB Financial’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in shares of CVB Financial during the 3rd quarter worth about $8,653,000. JPMorgan Chase & Co. boosted its position in shares of CVB Financial by 25.6% during 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 2,597 shares during the period. Jane Street Group LLC boosted its position in shares of 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 valued at $2,437,000 after purchasing an additional 14,384 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of CVB Financial by 22.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock valued at $1,131,000 after purchasing an additional 9,600 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

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.