CVB Financial Corporation (NASDAQ:CVBF) Receives Consensus Rating of “Moderate Buy” from Analysts

CVB Financial Corporation (NASDAQ:CVBF) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.1250.

CVBF has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $23.00 price target on shares of CVB Financial in a research report on Tuesday. Piper Sandler lifted their target price on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th.

Insider Activity

In related news, Director George A. Borba, Jr. purchased 50,242 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the transaction, the director directly owned 796,024 shares of the company’s stock, valued at approximately $15,840,877.60. The trade was a 6.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd raised its stake in shares of CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in CVB Financial in the 4th quarter valued at $42,000. Larson Financial Group LLC increased its stake in CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares during the period. EverSource Wealth Advisors LLC increased its stake in CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after buying an additional 695 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after buying an additional 854 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

NASDAQ CVBF traded up $0.45 during trading hours on Tuesday, hitting $21.29. The company had a trading volume of 341,039 shares, compared to its average volume of 1,574,642. The business has a 50 day moving average of $20.33 and a 200-day moving average of $19.91. The company has a market cap of $3.76 billion, a PE ratio of 14.09 and a beta of 0.66. CVB Financial has a 1-year low of $17.94 and a 1-year high of $21.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period in the previous year, the business earned $0.36 EPS. As a group, equities research analysts expect that CVB Financial will post 1.56 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. CVB Financial’s dividend payout ratio is 52.63%.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.