CVB Financial Corp. (NASDAQ:CVBF) Receives $20.00 Average PT from Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has received a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $20.00.

A number of equities research analysts have recently issued reports on CVBF shares. Stephens upped their price objective on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. Finally, Wedbush upped their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 25th.

CVB Financial Stock Performance

Shares of CVB Financial stock opened at $18.25 on Friday. CVB Financial has a 52-week low of $14.62 and a 52-week high of $21.77. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.01 and a beta of 0.45. The company has a fifty day moving average of $17.97 and a 200-day moving average of $17.22.

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

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.38%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insiders Place Their Bets

In other CVB Financial news, Director Kimberly H. Sheehy sold 2,961 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total value of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CVBF. Natixis Advisors L.P. raised its holdings in CVB Financial by 30.2% in the 4th quarter. Natixis Advisors L.P. now owns 26,984 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 6,257 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CVB Financial by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after acquiring an additional 594,901 shares in the last quarter. Boston Partners increased its stake in shares of CVB Financial by 11.7% in the 4th quarter. Boston Partners now owns 34,356 shares of the financial services provider’s stock worth $694,000 after acquiring an additional 3,606 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of CVB Financial by 143.8% in the 4th quarter. Panagora Asset Management Inc. now owns 268,909 shares of the financial services provider’s stock worth $5,429,000 after acquiring an additional 158,599 shares in the last quarter. Finally, Norges Bank bought a new position in shares of CVB Financial in the 4th quarter worth about $29,134,000. 74.18% of the stock is currently owned by institutional investors.

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.