Brokerages Set CVB Financial Corp. (CVBF) Target Price at $20.40
CVB Financial Corp. (NASDAQ:CVBF) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.40.
Several equities research analysts recently weighed in on CVBF shares. Piper Jaffray Companies decreased their target price on CVB Financial Corp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday. Zacks Investment Research lowered CVB Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th.
CVB Financial Corp. (NASDAQ:CVBF) traded up 2.27% during mid-day trading on Monday, hitting $21.22. 397,631 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $22.01 and its 200-day moving average price is $21.28. CVB Financial Corp. has a one year low of $15.25 and a one year high of $24.63. The stock has a market cap of $2.30 billion, a PE ratio of 22.57 and a beta of 1.47.
CVB Financial Corp. (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm earned $73.85 million during the quarter, compared to analysts’ expectations of $75.73 million. CVB Financial Corp. had a return on equity of 10.25% and a net margin of 33.74%. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, analysts forecast that CVB Financial Corp. will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Wednesday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, April 3rd. CVB Financial Corp.’s dividend payout ratio (DPR) is 51.61%.
In other CVB Financial Corp. news, Director Guercio Stephen A. Del sold 3,000 shares of CVB Financial Corp. stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $23.48, for a total transaction of $70,440.00. Following the transaction, the director now owns 19,000 shares of the company’s stock, valued at $446,120. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher D. Myers sold 25,000 shares of CVB Financial Corp. stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $23.16, for a total value of $579,000.00. Following the transaction, the chief executive officer now directly owns 388,594 shares in the company, valued at approximately $8,999,837.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,000 shares of company stock worth $1,229,690. 7.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in CVB Financial Corp. by 8.7% in the third quarter. Victory Capital Management Inc. now owns 6,751 shares of the financial services provider’s stock valued at $119,000 after buying an additional 540 shares during the period. Cutler Capital Management LLC purchased a new position in CVB Financial Corp. during the first quarter valued at approximately $120,000. Bank of Montreal Can raised its position in CVB Financial Corp. by 8.6% in the first quarter. Bank of Montreal Can now owns 8,161 shares of the financial services provider’s stock valued at $180,000 after buying an additional 649 shares during the period. Stevens Capital Management LP purchased a new position in CVB Financial Corp. during the third quarter valued at approximately $240,000. Finally, State of Alaska Department of Revenue raised its position in CVB Financial Corp. by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 11,180 shares of the financial services provider’s stock valued at $246,000 after buying an additional 310 shares during the period. 66.76% of the stock is currently owned by institutional investors.
About CVB Financial Corp.
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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