CVB Financial (NASDAQ:CVBF) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of CVB Financial (NASDAQ:CVBF - Free Report) in a research report released on Thursday, Benzinga reports. The firm currently has a $20.00 target price on the financial services provider's stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upgraded CVB Financial from a "market perform" rating to an "outperform" rating and increased their price target for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Stephens increased their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.25.

CVB Financial Stock Up 3.2 %

Shares of NASDAQ CVBF traded up $0.60 during mid-day trading on Thursday, reaching $19.59. 1,073,833 shares of the company were exchanged, compared to its average volume of 831,719. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 12.89 and a beta of 0.45. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77. The firm has a 50-day moving average of $18.02 and a 200 day moving average of $17.42.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data 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 firm 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 10.41% and a net margin of 29.58%. The firm's quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, equities analysts forecast that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Monday, September 30th. CVB Financial's dividend payout ratio is presently 52.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider's stock valued at $317,014,000 after purchasing an additional 176,694 shares during the period. American Century Companies Inc. grew its holdings in CVB Financial by 1.0% during the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider's stock worth $100,221,000 after acquiring an additional 58,774 shares during the period. Dimensional Fund Advisors LP grew its holdings in CVB Financial by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider's stock worth $97,399,000 after acquiring an additional 816,176 shares during the period. Sei Investments Co. grew its holdings in CVB Financial by 2.9% during the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider's stock worth $10,843,000 after acquiring an additional 17,483 shares during the period. Finally, Bessemer Group Inc. grew its holdings in CVB Financial by 7.3% during the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider's stock worth $9,629,000 after acquiring an additional 36,894 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

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.