CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.41 and traded as high as $21.71. CVB Financial shares last traded at $21.17, with a volume of 784,748 shares.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. 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. Wedbush reissued a "neutral" rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised their target price on CVB Financial from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.80.
Get Our Latest Research Report on CVB Financial
CVB Financial Stock Performance
The company has a market capitalization of $2.91 billion, a PE ratio of 14.55 and a beta of 0.50. The company's 50-day simple moving average is $22.19 and its 200-day simple moving average is $19.44.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released 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. The business had revenue of $126.45 million during the quarter, compared to analysts' expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Analysts expect that CVB Financial Corp. will post 1.43 EPS for the current year.
CVB Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.84%. The ex-dividend date is Tuesday, December 31st. CVB Financial's payout ratio is 55.94%.
Institutional Trading of CVB Financial
A number of institutional investors have recently added to or reduced their stakes in CVBF. Wellington Management Group LLP purchased a new stake in shares of CVB Financial in the 3rd quarter worth about $8,653,000. Jane Street Group LLC lifted its stake in shares of CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider's stock valued at $2,437,000 after buying an additional 14,384 shares during the period. Citigroup Inc. boosted its holdings in shares of CVB Financial by 9.8% during the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider's stock worth $4,716,000 after purchasing an additional 23,682 shares during the last quarter. American Century Companies Inc. grew its holdings in 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 buying an additional 58,774 shares during the period. Finally, Barclays PLC lifted its holdings in shares of CVB Financial by 79.5% during the 3rd quarter. Barclays PLC now owns 291,011 shares of the financial services provider's stock worth $5,186,000 after acquiring an additional 128,869 shares during the period. Hedge funds and other institutional investors own 74.18% of the company's stock.
CVB Financial Company Profile
(
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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.
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