CVB Financial Corp. (NASDAQ:CVBF) had its price target boosted by Keefe, Bruyette & Woods from $17.00 to $18.00 in a research note published on Tuesday. The firm currently has a market perform rating on the financial services provider’s stock.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of CVB Financial Corp. from a sell rating to a hold rating in a report on Monday, July 4th. DA Davidson reaffirmed a hold rating and issued a $18.00 target price on shares of CVB Financial Corp. in a report on Monday, September 26th. Finally, Hovde Group initiated coverage on shares of CVB Financial Corp. in a report on Wednesday, June 22nd. They issued a market perform rating and a $17.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus price target of $18.25.
CVB Financial Corp. (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.23 earnings per share 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 last year, the firm posted $0.25 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued 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 yield of 2.73%. CVB Financial Corp.’s payout ratio is currently 48.98%.
In other news, EVP David A. Brager sold 8,000 shares of CVB Financial Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $17.08, for a total value of $136,640.00. Following the transaction, the executive vice president now directly owns 25,113 shares of the company’s stock, valued at approximately $428,930.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher D. Myers sold 25,000 shares of CVB Financial Corp. stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $17.00, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 355,052 shares in the company, valued at $6,035,884. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in CVBF. Mason Street Advisors LLC acquired a new position in shares of CVB Financial Corp. during the second quarter worth approximately $321,000. Schwab Charles Investment Management Inc. boosted its position in shares of CVB Financial Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 423,092 shares of the financial services provider’s stock worth $6,935,000 after buying an additional 7,522 shares during the last quarter. Amalgamated Bank boosted its position in shares of CVB Financial Corp. by 5.4% in the second quarter. Amalgamated Bank now owns 12,018 shares of the financial services provider’s stock worth $204,000 after buying an additional 615 shares during the last quarter. Arizona State Retirement System boosted its position in shares of CVB Financial Corp. by 2.8% in the second quarter. Arizona State Retirement System now owns 52,036 shares of the financial services provider’s stock worth $853,000 after buying an additional 1,400 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of CVB Financial Corp. during the second quarter worth approximately $367,000. 65.43% of the stock is currently owned by institutional investors and hedge funds.
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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