CVB Financial Corp. (NASDAQ:CVBF) Receives $20.80 Consensus Price Target from Brokerages

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) has received an average recommendation of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.80.

Several research analysts have issued reports on CVBF shares. Piper Sandler lowered their price objective 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. Keefe, Bruyette & Woods raised CVB Financial from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush reaffirmed a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Stephens lifted their target price on CVB Financial from $19.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, July 26th.

CVB Financial Trading Down 1.6 %

Shares of NASDAQ CVBF traded down $0.31 during mid-day trading on Monday, reaching $18.96. The company had a trading volume of 528,697 shares, compared to its average volume of 823,822. CVB Financial has a 52-week low of $15.71 and a 52-week high of $21.77. The stock has a market cap of $2.65 billion, a P/E ratio of 13.26 and a beta of 0.44. The firm has a 50 day simple moving average of $18.35 and a two-hundred day simple moving average of $17.60.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during 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 business's quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. On average, equities analysts expect that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.22%. CVB Financial's dividend payout ratio (DPR) is presently 55.94%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in CVB Financial by 43.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,879 shares of the financial services provider's stock valued at $1,944,000 after purchasing an additional 34,088 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of CVB Financial by 48.1% in the 1st quarter. BNP Paribas Financial Markets now owns 67,644 shares of the financial services provider's stock worth $1,207,000 after buying an additional 21,969 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in CVB Financial in the 1st quarter valued at about $1,606,000. Texas Permanent School Fund Corp increased its holdings in CVB Financial by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider's stock valued at $2,062,000 after acquiring an additional 1,299 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in CVB Financial during the 1st quarter valued at about $1,205,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.