CVB Financial (NASDAQ:CVBF) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of CVB Financial (NASDAQ:CVBF) from a market perform rating to an outperform rating in a research note published on Wednesday, Marketbeat reports. The firm currently has $22.00 price target on the financial services provider’s stock, up from their prior price target of $20.00.

CVBF has been the topic of a number of other research reports. Stephens raised their price objective on CVB Financial from $19.00 to $21.00 and gave the company an equal weight rating in a report on Friday, July 26th. Wedbush decreased their price target on shares of CVB Financial from $21.00 to $20.00 and set a neutral rating on the stock in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $20.25.

CVB Financial Stock Down 0.1 %

CVBF stock opened at $18.05 on Wednesday. CVB Financial has a 52 week low of $14.62 and a 52 week high of $21.77. The firm has a 50-day simple moving average of $17.67 and a 200-day simple moving average of $17.27. The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.88 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. CVB Financial’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. On average, analysts expect that CVB Financial will post 1.4 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.43%. CVB Financial’s payout ratio is 52.63%.

Institutional Investors Weigh In On CVB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its stake in CVB Financial by 1.9% during the second quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of CVB Financial by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 748 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in CVB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $1,150,000 after buying an additional 1,100 shares during the period. Texas Permanent School Fund Corp lifted its position in CVB Financial by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock valued at $2,062,000 after buying an additional 1,299 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in CVB Financial by 1.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock worth $2,041,000 after buying an additional 1,396 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.