CVB Financial Corp. (NASDAQ:CVBF) Receives $21.80 Average Price Target from Brokerages

Shares of CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) have earned a consensus rating of "Hold" from the six analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.80.

Several research firms have recently issued reports on CVBF. Wedbush restated a "neutral" rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Piper Sandler decreased 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 note on Friday, November 1st. Finally, Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.

CVB Financial Stock Performance

CVBF stock traded up $0.21 during midday trading on Tuesday, reaching $21.98. 347,039 shares of the company traded hands, compared to its average volume of 838,536. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.37 and a beta of 0.49. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The business has a 50 day moving average of $21.74 and a 200-day moving average of $19.08.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. CVB Financial's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Research analysts anticipate that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.64%. CVB Financial's dividend payout ratio (DPR) is currently 55.94%.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its stake in shares of CVB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider's stock valued at $1,150,000 after buying an additional 1,100 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of CVB Financial by 10.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 287,104 shares of the financial services provider's stock valued at $4,950,000 after purchasing an additional 27,674 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of CVB Financial in the 2nd quarter worth approximately $38,000. WBI Investments LLC bought a new position in shares of CVB Financial during the second quarter valued at approximately $177,000. Finally, nVerses Capital LLC increased its holdings in CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,400 shares during the period. 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.