According to Zacks, “CVB Financial Corp. is a bank holding company. CVB’s principal business is to serve as a holding company for the Bank, Community, Ventures, and for other banking or banking related subsidiaries which the Company may establish or acquire. Through its network of banking offices, the Bank emphasizes personalized service combined with offering a full range of banking and trust services to businesses, professionals and individuals located in the service areas of its offices. “
Several other equities analysts have also commented on CVBF. Keefe, Bruyette & Woods increased their price target on shares of CVB Financial Corp. from $17.00 to $18.00 and gave the company a market perform rating in a research note on Tuesday. Hovde Group began coverage on shares of CVB Financial Corp. in a research note on Wednesday, June 22nd. They issued a market perform rating and a $17.00 price target on the stock. Finally, DA Davidson reiterated a hold rating and issued a $18.00 price target on shares of CVB Financial Corp. in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus price target of $18.25.
CVB Financial Corp. (NASDAQ:CVBF) opened at 17.37 on Tuesday. CVB Financial Corp. has a 1-year low of $14.02 and a 1-year high of $18.77. The firm has a market capitalization of $1.88 billion, a PE ratio of 17.74 and a beta of 1.57. The company has a 50 day moving average of $17.30 and a 200 day moving average of $16.99.
CVB Financial Corp. (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. CVB Financial Corp. had a net margin of 34.99% and a return on equity of 11.07%. During the same quarter in the previous year, the business earned $0.25 earnings per share. Analysts forecast that CVB Financial Corp. will post $0.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.76%. CVB Financial Corp.’s dividend payout ratio (DPR) is presently 48.98%.
In related news, CEO Christopher D. Myers sold 25,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $17.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 355,052 shares of the company’s stock, valued at $6,035,884. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David A. Brager sold 8,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $17.08, for a total value of $136,640.00. Following the sale, the executive vice president now directly owns 25,113 shares of the company’s stock, valued at $428,930.04. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Several large investors have recently modified their holdings of CVBF. Vanguard Group Inc. increased its stake in shares of CVB Financial Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 8,095,253 shares of the financial services provider’s stock valued at $132,681,000 after buying an additional 524,198 shares in the last quarter. BlackRock Fund Advisors increased its stake in CVB Financial Corp. by 2.1% in the second quarter. BlackRock Fund Advisors now owns 6,417,991 shares of the financial services provider’s stock worth $105,191,000 after buying an additional 132,738 shares during the period. Goldman Sachs Group Inc. increased its stake in CVB Financial Corp. by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,533,379 shares of the financial services provider’s stock worth $61,657,000 after buying an additional 352,730 shares during the period. Silvercrest Asset Management Group LLC increased its stake in CVB Financial Corp. by 12.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 3,399,077 shares of the financial services provider’s stock worth $55,711,000 after buying an additional 379,760 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in CVB Financial Corp. by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,583,867 shares of the financial services provider’s stock worth $45,088,000 after buying an additional 47,590 shares during the period. 65.42% of the stock is owned by hedge funds and other institutional investors.
CVB Financial Corp. Company Profile
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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