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

Shares of CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.20.

Several equities research analysts have issued reports on CVBF shares. Stephens decreased their price target on shares of 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 raised their target price 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.

CVB Financial Stock Performance

CVBF stock traded up $0.05 on Friday, reaching $18.60. The company had a trading volume of 435,258 shares, compared to its average volume of 765,455. The company's fifty day moving average is $20.33 and its 200 day moving average is $20.28. The company has a market cap of $2.60 billion, a P/E ratio of 12.92 and a beta of 0.46. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that CVB Financial will post 1.41 earnings per share for the current year.

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CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.30%. CVB Financial's dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On CVB Financial

Several institutional investors and hedge funds have recently bought and sold shares of CVBF. Nomura Asset Management Co. Ltd. increased its holdings in shares of CVB Financial by 80.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after buying an additional 720 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in CVB Financial during the fourth quarter valued at about $53,000. Sterling Capital Management LLC raised its holdings in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after purchasing an additional 3,719 shares during the period. Smartleaf Asset Management LLC lifted its stake 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 in the last quarter. Finally, KBC Group NV grew its holdings in shares of CVB Financial by 35.0% during the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.

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.