CVB Financial Corp. (NASDAQ:CVBF) Receives Consensus Recommendation of "Hold" from Brokerages

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has received an average rating of "Hold" from the six analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.20.

Separately, Stephens lowered 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 report on Monday, January 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in CVB Financial during the 3rd quarter valued at $8,653,000. JPMorgan Chase & Co. lifted its position in 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 buying an additional 74,004 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in CVB Financial by 144.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after buying an additional 2,597 shares in the last quarter. Jane Street Group LLC grew its holdings in CVB Financial by 11.8% during the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider's stock worth $2,437,000 after acquiring an additional 14,384 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of CVB Financial by 22.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider's stock worth $1,131,000 after acquiring an additional 9,600 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Remove Ads

CVB Financial Price Performance

Shares of NASDAQ CVBF traded down $0.12 during mid-day trading on Thursday, hitting $16.73. The company had a trading volume of 1,242,891 shares, compared to its average volume of 799,275. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The firm has a market cap of $2.34 billion, a P/E ratio of 11.62 and a beta of 0.62. The business's 50-day simple moving average is $19.48 and its 200-day simple moving average is $20.36.

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

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.78%. CVB Financial's dividend payout ratio is 55.56%.

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.