CVB Financial Corporation (NASDAQ:CVBF) Receives Average Rating of “Hold” from Analysts

by · The Cerbat Gem

Shares of CVB Financial Corporation (NASDAQ:CVBF – Get Free Report) have been assigned an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.8750.

A number of equities analysts have recently issued reports on CVBF shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday. Wall Street Zen downgraded CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, DA Davidson upped their target price on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Friday.

View Our Latest Analysis on CVBF

CVB Financial Price Performance

Shares of CVBF stock traded down $0.13 during mid-day trading on Friday, hitting $19.53. The stock had a trading volume of 882,736 shares, compared to its average volume of 813,840. CVB Financial has a 12-month low of $16.01 and a 12-month high of $22.26. The firm’s 50-day moving average is $19.15 and its two-hundred day moving average is $19.45. The firm has a market capitalization of $2.67 billion, a P/E ratio of 13.39 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF – Get Free Report) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%.The firm had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. 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 will be paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 4.1%. CVB Financial’s dividend payout ratio is presently 54.79%.

Insider Activity

In other news, Director George A. Borba, Jr. acquired 27,094 shares of CVB Financial stock in a transaction dated Friday, November 14th. The stock was purchased at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the purchase, the director directly owned 745,782 shares in the company, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CVB Financial

Institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL grew its holdings in CVB Financial by 139.4% in the third quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after purchasing an additional 58,882 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of CVB Financial during the 3rd quarter valued at approximately $267,000. CANADA LIFE ASSURANCE Co grew its stake in CVB Financial by 2.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 120,102 shares of the financial services provider’s stock valued at $2,290,000 after acquiring an additional 2,652 shares during the period. Dark Forest Capital Management LP grew its stake in CVB Financial by 127.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 178,361 shares of the financial services provider’s stock valued at $3,373,000 after acquiring an additional 99,790 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in CVB Financial in the 3rd quarter worth $254,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

(Get Free Report)

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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