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

Shares of CVB Financial Corporation (NASDAQ:CVBF) have received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.25.

CVBF has been the topic of a number of research reports. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. DA Davidson raised their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a research note on Thursday, August 6th. Piper Sandler upped their price objective on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th.

CVB Financial Stock Performance

Shares of CVBF stock opened at $22.19 on Monday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 15.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. CVB Financial has a 1 year low of $17.94 and a 1 year high of $23.41. The stock’s 50-day moving average is $22.58 and its two-hundred day moving average is $20.93.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period last year, the firm earned $0.36 EPS. Analysts predict that CVB Financial will post 1.72 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. CVB Financial’s dividend payout ratio is 55.17%.

Insider Transactions at CVB Financial

In related news, COO David C. Harvey sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares of the company’s stock, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brien Raymond V. O. III bought 20,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the director directly owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This trade represents a 30.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several institutional investors have recently modified their holdings of CVBF. ProShare Advisors LLC increased its stake in shares of CVB Financial by 2.1% during the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 521 shares in the last quarter. CWM LLC lifted its stake in CVB Financial by 6.3% in the 4th quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock valued at $194,000 after buying an additional 620 shares in the last quarter. Savant Capital LLC lifted its stake in CVB Financial by 6.1% in the 4th quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock valued at $211,000 after buying an additional 653 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in CVB Financial by 40.6% during the 1st 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 last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in CVB Financial by 1.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 67,931 shares of the financial services provider’s stock valued at $1,264,000 after buying an additional 742 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.