Brokerages Set CVB Financial Corp. (NASDAQ:CVBF) Price Target at $22.20

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has received a consensus rating of "Hold" from the six brokerages that are presently covering the firm, MarketBeat.com 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 twelve-month price objective among analysts that have covered the stock in the last year is $22.20.

CVBF has been the subject of a number of recent research reports. Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler cut 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. Finally, Wedbush reiterated a "neutral" rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th.

CVB Financial Price Performance

Shares of CVBF traded down $0.09 during mid-day trading on Wednesday, reaching $20.28. 403,591 shares of the company's stock were exchanged, compared to its average volume of 760,937. The business's fifty day simple moving average is $21.18 and its 200-day simple moving average is $19.96. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The stock has a market capitalization of $2.83 billion, a PE ratio of 14.08 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. Equities research analysts predict that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Tuesday, December 31st. CVB Financial's dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVBF. AQR Capital Management LLC raised its holdings in CVB Financial by 132.1% during the second quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider's stock worth $417,000 after purchasing an additional 13,771 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of CVB Financial during the 3rd quarter worth $107,000. GAMMA Investing LLC raised its stake in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $78,000 after buying an additional 780 shares during the last quarter. AlphaMark Advisors LLC boosted its position in shares of CVB Financial by 4.7% in the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider's stock worth $342,000 after buying an additional 859 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in CVB Financial by 4.1% during the 3rd quarter. Inspire Advisors LLC now owns 89,011 shares of the financial services provider's stock valued at $1,586,000 after acquiring an additional 3,527 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other 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.