CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has received an average recommendation of "Hold" from the six brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $20.80.
A number of research analysts have commented on CVBF shares. Wedbush reiterated a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Piper Sandler reduced their price target on shares of CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd.
Check Out Our Latest Report on CVB Financial
CVB Financial Stock Performance
CVBF stock traded down $0.41 during trading on Friday, reaching $23.42. 703,773 shares of the company were exchanged, compared to its average volume of 827,073. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a market cap of $3.27 billion, a P/E ratio of 16.38 and a beta of 0.44. The stock's 50 day moving average price is $20.13 and its 200 day moving average price is $18.32.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. CVB Financial's revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that CVB Financial will post 1.43 EPS for the current year.
CVB Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Monday, September 30th. CVB Financial's dividend payout ratio (DPR) is currently 55.94%.
Institutional Investors Weigh In On CVB Financial
A number of institutional investors have recently bought and sold shares of CVBF. American Century Companies Inc. increased its stake in shares of CVB Financial by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider's stock valued at $100,221,000 after acquiring an additional 58,774 shares during the last quarter. Seaside Wealth Management Inc. bought a new stake in CVB Financial in the 2nd quarter valued at $1,395,000. Charles Schwab Investment Management Inc. increased its position in CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider's stock worth $88,251,000 after buying an additional 181,769 shares during the period. Price T Rowe Associates Inc. MD increased its position in CVB Financial by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider's stock worth $1,888,000 after buying an additional 4,744 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider's stock worth $3,798,000 after buying an additional 99,554 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.
About CVB Financial
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Get Free ReportCVB 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.
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