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

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has received a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.80.

A number of research firms have issued reports on CVBF. Piper Sandler cut their price target on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, November 1st. Wedbush reaffirmed a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded up $0.16 during trading on Friday, hitting $20.53. 766,875 shares of the company traded hands, compared to its average volume of 825,879. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 14.36 and a beta of 0.50. The business's fifty day moving average is $22.20 and its 200 day moving average is $19.65. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58.

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

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial's dividend payout ratio (DPR) is currently 55.94%.

Institutional Investors Weigh In On CVB Financial

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in CVB Financial during the third quarter valued at $27,000. GAMMA Investing LLC grew 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 acquiring an additional 780 shares during the period. SG Americas Securities LLC purchased a new stake in CVB Financial in the 3rd quarter worth about $107,000. Crossmark Global Holdings Inc. purchased a new stake in CVB Financial in the 4th quarter worth about $206,000. Finally, LMR Partners LLP purchased a new stake in CVB Financial during the third quarter valued at about $215,000. Hedge funds and other institutional investors own 74.18% of the company's stock.

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.