CVB Financial’s (CVBF) “Neutral” Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of CVB Financial (NASDAQ:CVBF) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $19.00 price target on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q2 2024 earnings at $0.34 EPS, Q3 2024 earnings at $0.37 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.43 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.40 EPS.

Several other research firms have also recently weighed in on CVBF. Keefe, Bruyette & Woods lowered their price target on CVB Financial from $22.00 to $20.00 and set a market perform rating on the stock in a report on Friday, January 26th. Hovde Group cut shares of CVB Financial from an outperform rating to a market perform rating and set a $18.00 price objective on the stock. in a research note on Monday. Finally, StockNews.com raised shares of CVB Financial to a sell rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $19.25.

CVB Financial Price Performance

CVBF opened at $16.51 on Thursday. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77. The stock has a 50-day moving average price of $17.00 and a 200-day moving average price of $17.69. The firm has a market cap of $2.31 billion, a PE ratio of 10.86 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. The business had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. During the same period last year, the business posted $0.42 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.85%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insider Transactions at CVB Financial

In other news, CFO E Allen Nicholson acquired 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $16.77 per share, with a total value of $33,540.00. Following the completion of the purchase, the chief financial officer now directly owns 92,310 shares in the company, valued at approximately $1,548,038.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the completion of the purchase, the chief financial officer now owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders bought a total of 63,601 shares of company stock valued at $1,067,145 over the last three months. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Several institutional investors have recently bought and sold shares of the business. Raymond James & Associates lifted its position in CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 854 shares during the last quarter. Covestor Ltd lifted its holdings in shares of CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of CVB Financial by 6.5% in the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 1,705 shares during the last quarter. Strs Ohio bought a new stake in shares of CVB Financial in the 4th quarter worth about $36,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of CVB Financial by 10.1% in the 3rd quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,905 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.