Stephens Raises CVB Financial (NASDAQ:CVBF) Price Target to $25.00

CVB Financial (NASDAQ:CVBF) had its price target upped by stock analysts at Stephens from $23.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 11.11% from the company’s current price.

Other research analysts have also recently issued reports about the stock. DA Davidson raised their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Wednesday, July 1st. Piper Sandler increased their price target on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.75.

CVB Financial Stock Performance

NASDAQ CVBF opened at $22.50 on Tuesday. CVB Financial has a 52-week low of $17.94 and a 52-week high of $23.36. The stock has a market cap of $3.97 billion, a PE ratio of 15.52 and a beta of 0.65. The firm has a 50-day moving average of $21.54 and a 200-day moving average of $20.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter last year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that CVB Financial will post 1.66 EPS for the current year.

Insider Activity

In other CVB Financial news, Director George A. Borba, Jr. purchased 50,242 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $19.90 per share, with a total value of $999,815.80. Following the acquisition, the director owned 796,024 shares of the company’s stock, valued at approximately $15,840,877.60. This represents a 6.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVBF. Revolve Wealth Partners LLC bought a new position in shares of CVB Financial in the second quarter worth about $303,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $654,000. GAMMA Investing LLC grew its holdings in shares of CVB Financial by 44.8% during the 2nd quarter. GAMMA Investing LLC now owns 9,519 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 2,943 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of CVB Financial by 28.1% during the 1st quarter. Bank of America Corp DE now owns 925,555 shares of the financial services provider’s stock valued at $17,947,000 after purchasing an additional 202,857 shares during the last quarter. Finally, Amundi bought a new stake in shares of CVB Financial during the 1st quarter valued at approximately $536,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

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.