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

CVB Financial Corp. (NASDAQ:CVBF – Get Free Report) has earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.20.

Separately, Stephens decreased their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th.

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CVB Financial Trading Down 1.2 %

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Shares of NASDAQ:CVBF opened at $16.85 on Thursday. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.70 and a beta of 0.46. The firm’s 50-day moving average is $19.56 and its 200 day moving average is $20.35.

CVB Financial (NASDAQ:CVBF – Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping 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 forecast that CVB Financial will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s payout ratio is 55.56%.

Institutional Trading of CVB Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its position in CVB Financial by 80.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 720 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of CVB Financial by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 880 shares in the last quarter. Blue Trust Inc. increased its holdings in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after buying an additional 918 shares during the period. Pictet Asset Management Holding SA raised its stake in CVB Financial by 5.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,475 shares of the financial services provider’s stock worth $417,000 after buying an additional 1,054 shares in the last quarter. Finally, KBC Group NV lifted its holdings in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after buying an additional 1,556 shares during the period. 74.18% of the stock is currently owned by institutional investors.

About CVB Financial

(Get Free Report

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.