CVB Financial Corp. (NASDAQ:CVBF) Receives $22.20 Consensus Target Price from Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been given an average recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.20.

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reduced their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Finally, Piper Sandler reduced their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $20.28 on Wednesday. The company has a market cap of $2.83 billion, a P/E ratio of 14.08 and a beta of 0.50. The stock’s 50-day moving average is $21.24 and its 200-day moving average is $19.94. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, equities analysts predict that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s payout ratio is presently 55.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVBF. AQR Capital Management LLC lifted its stake in CVB Financial by 132.1% during the second quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 13,771 shares during the period. SG Americas Securities LLC bought a new position in CVB Financial during the third quarter worth about $107,000. GAMMA Investing LLC lifted its stake in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares during the period. AlphaMark Advisors LLC lifted its stake in CVB Financial by 4.7% during the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 859 shares during the period. Finally, Inspire Advisors LLC lifted its stake in CVB Financial by 4.1% during the third quarter. Inspire Advisors LLC now owns 89,011 shares of the financial services provider’s stock worth $1,586,000 after purchasing an additional 3,527 shares during the period. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

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.