CVB Financial Corporation (NASDAQ:CVBF) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CVB Financial Corporation (NASDAQ:CVBF) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.30.

A number of analysts recently commented on the company. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. Piper Sandler raised their target price on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Stephens reiterated an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CVB Financial in a research note on Wednesday.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 25,187 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the transaction, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd grew its holdings in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of CVB Financial in the fourth quarter valued at $42,000. Larson Financial Group LLC lifted its position in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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, Osterweis Capital Management Inc. bought a new position in shares of CVB Financial during the 2nd quarter worth $103,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 0.5%

CVBF stock traded up $0.12 during trading on Friday, reaching $22.47. The stock had a trading volume of 1,198,811 shares, compared to its average volume of 1,806,817. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.78 and a beta of 0.65. CVB Financial has a one year low of $17.94 and a one year high of $23.33. The company’s 50 day moving average is $21.00 and its two-hundred day moving average is $20.19.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts forecast that CVB Financial will post 1.63 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

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.