Sandler O’Neill Reiterates “Hold” Rating for CVB Financial (CVBF)

Sandler O’Neill reiterated their hold rating on shares of CVB Financial (NASDAQ:CVBF) in a research report sent to investors on Thursday morning. Sandler O’Neill currently has a $24.00 target price on the financial services provider’s stock.

A number of other research analysts have also weighed in on CVBF. Zacks Investment Research lowered CVB Financial from a buy rating to a hold rating in a report on Monday, December 4th. BidaskClub upgraded CVB Financial from a sell rating to a hold rating in a report on Friday, January 19th. Keefe, Bruyette & Woods restated a hold rating and issued a $26.00 price objective on shares of CVB Financial in a report on Thursday, March 1st. Finally, Hovde Group set a $25.00 price objective on CVB Financial and gave the company a hold rating in a report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating, CVB Financial has a consensus rating of Hold and a consensus price target of $24.33.

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Shares of NASDAQ:CVBF opened at $22.64 on Thursday. CVB Financial has a 1 year low of $19.58 and a 1 year high of $25.49. The company has a market cap of $2,494.02, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.70 and a current ratio of 0.70.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. The firm had revenue of $83.86 million for the quarter, compared to analyst estimates of $82.00 million. During the same quarter last year, the firm posted $0.25 EPS. sell-side analysts expect that CVB Financial will post 1.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, April 5th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.47%. CVB Financial’s payout ratio is currently 52.34%.

In other CVB Financial news, CEO Christopher D. Myers sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $23.85, for a total value of $477,000.00. Following the transaction, the chief executive officer now owns 327,336 shares in the company, valued at approximately $7,806,963.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Gradient Investments LLC purchased a new position in shares of CVB Financial during the 4th quarter worth $172,000. Virtu Financial LLC acquired a new stake in shares of CVB Financial during the 4th quarter worth about $201,000. Trilogy Capital Inc. acquired a new stake in shares of CVB Financial during the 4th quarter worth about $210,000. Jane Street Group LLC acquired a new stake in shares of CVB Financial during the 3rd quarter worth about $243,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of CVB Financial during the 4th quarter worth about $299,000. Institutional investors and hedge funds own 69.97% of the company’s stock.

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About CVB Financial

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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