CVB Financial Corporation (NASDAQ:CVBF) Given Average Rating of “Moderate Buy” by Analysts

Shares of CVB Financial Corporation (NASDAQ:CVBF) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.30.

Several equities research analysts have issued reports on the company. Stephens restated an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research report on Tuesday, June 16th. Piper Sandler increased their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of CVB Financial in a research note on Wednesday. Finally, Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a report on Wednesday, July 1st.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded up $0.12 during midday trading on Friday, hitting $22.47. The company’s stock had a trading volume of 1,198,811 shares, compared to its average volume of 1,806,817. The stock has a fifty day moving average price of $21.00 and a 200 day moving average price of $20.19. CVB Financial has a one year low of $17.94 and a one year high of $23.33. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.78 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The company had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. During the same period last year, the firm earned $0.36 EPS. On average, research analysts forecast that CVB Financial will post 1.63 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Insider Buying and Selling

In other news, Director George A. Borba, Jr. acquired 50,242 shares of CVB Financial stock in a transaction that occurred on 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 completion of the purchase, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. The trade was 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 link. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd grew its position in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of CVB Financial in the fourth quarter worth $42,000. Larson Financial Group LLC raised its position in shares of CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,791 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in CVB Financial by 40.6% during the first 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, Osterweis Capital Management Inc. bought a new stake in CVB Financial during the second quarter valued at $103,000. 74.18% of the stock is owned by institutional investors.

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.