Analysts Set CVB Financial Corporation (NASDAQ:CVBF) Target Price at $26.25

CVB Financial Corporation (NASDAQ:CVBF) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.25.

A number of research analysts have recently issued reports on the company. DA Davidson boosted their target price on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Wednesday, July 1st. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Thursday, August 6th.

CVB Financial Stock Up 0.6%

Shares of NASDAQ:CVBF opened at $22.62 on Monday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.60 and a beta of 0.64. CVB Financial has a 12-month low of $17.94 and a 12-month high of $23.41. The business has a 50-day moving average price of $22.62 and a 200 day moving average price of $20.99. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same period in the previous year, the business posted $0.36 EPS. Sell-side analysts expect that CVB Financial will post 1.72 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is currently 55.17%.

Insider Activity at CVB Financial

In related news, Director Mike Maddox bought 10,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was bought at an average cost of $22.03 per share, with a total value of $220,300.00. Following the completion of the acquisition, the director owned 13,138 shares in the company, valued at approximately $289,430.14. This represents a 318.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David C. Harvey sold 40,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares of the company’s stock, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of CVB Financial by 28.7% in the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after buying an additional 8,432 shares in the last quarter. AQR Capital Management LLC increased its holdings in CVB Financial by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 12,992 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CVB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock worth $1,456,000 after acquiring an additional 3,442 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CVB Financial by 848.1% in the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CVB Financial by 9.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock valued at $8,458,000 after purchasing an additional 38,250 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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.