CVB Financial Corporation (NASDAQ:CVBF) Stock Has Consensus Target Price of $26.25 According to Analysts

Shares of CVB Financial Corporation (NASDAQ:CVBF) have earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $26.25.

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

Insider Buying and Selling

In other news, Director Brien Raymond V. O. III acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $22.77 per share, with a total value of $455,400.00. Following the completion of the acquisition, the director 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David C. Harvey sold 40,000 shares of CVB Financial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the transaction, the chief operating officer directly owned 98,149 shares in the company, valued at $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Topco LLC purchased a new position in shares of CVB Financial during the 2nd quarter worth approximately $1,710,000. Louisiana State Employees Retirement System purchased a new stake in CVB Financial in the first quarter valued at approximately $1,096,000. Legal & General Group Plc purchased a new stake in CVB Financial in the second quarter valued at approximately $8,705,000. Wellington Management Group LLP lifted its stake in CVB Financial by 16.5% during the second quarter. Wellington Management Group LLP now owns 1,227,820 shares of the financial services provider’s stock worth $27,687,000 after purchasing an additional 173,984 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in CVB Financial by 34.1% during the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock worth $28,439,000 after purchasing an additional 372,732 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 1.9%

Shares of CVBF opened at $22.01 on Friday. 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 one year low of $17.94 and a one year high of $23.41. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 15.18 and a beta of 0.66. The stock has a 50 day moving average price of $22.53 and a 200 day moving average price of $21.36.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data 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). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million during the quarter, compared to analyst estimates of $184.62 million. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that CVB Financial will post 1.74 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.20 dividend. The ex-dividend date is Wednesday, September 30th. 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%.

About CVB Financial

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a California-based financial institution serving businesses, professionals, individuals and nonprofit organizations. The company provides relationship-focused banking through a network of branches and commercial banking offices across Southern and Central California.

Citizens Business Bank offers a range of products and services, including commercial and small-business loans, commercial real estate financing, construction lending, agricultural lending, lines of credit, deposit accounts, cash-management and treasury services, online and mobile banking, and personal banking products.