CVB Financial Corp. (NASDAQ:CVBF) Receives $22.20 Average Target Price from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has received an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.20.

Several analysts have recently weighed in on CVBF shares. Keefe, Bruyette & Woods boosted their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th.

CVB Financial Stock Down 1.0 %

Shares of CVB Financial stock opened at $18.42 on Friday. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a 50 day moving average of $20.22 and a 200 day moving average of $20.26. The company has a market capitalization of $2.57 billion, a P/E ratio of 12.79 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. As a group, research analysts anticipate that CVB Financial will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. CVB Financial’s payout ratio is 55.56%.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors have recently modified their holdings of CVBF. Capital Research Global Investors acquired a new position in shares of CVB Financial in the 4th quarter valued at $94,382,000. Massachusetts Financial Services Co. MA acquired a new position in shares of CVB Financial in the 4th quarter valued at $31,064,000. Norges Bank acquired a new position in shares of CVB Financial in the 4th quarter valued at $27,724,000. Victory Capital Management Inc. increased its stake in CVB Financial by 210.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock valued at $31,858,000 after buying an additional 1,009,146 shares during the period. Finally, Wellington Management Group LLP acquired a new position in CVB Financial in the 3rd quarter valued at $8,653,000. 74.18% of the stock is owned by institutional investors and hedge funds.

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.