CVB Financial Corp. (CVBF) Given Average Rating of “Hold” by Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has received an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.38.

A number of analysts have commented on CVBF shares. BidaskClub downgraded shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Friday, November 30th. Keefe, Bruyette & Woods set a $23.00 price objective on shares of CVB Financial and gave the company a “hold” rating in a report on Thursday, December 20th. Piper Jaffray Companies upgraded shares of CVB Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $25.00 in a report on Monday, January 7th. FIG Partners downgraded shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, January 24th. Finally, Zacks Investment Research downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, January 25th.

Shares of CVB Financial stock opened at $20.22 on Friday. The stock has a market capitalization of $2.83 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.52 and a beta of 1.18. CVB Financial has a twelve month low of $19.21 and a twelve month high of $24.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.85.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). The company had revenue of $123.77 million during the quarter, compared to analysts’ expectations of $116.78 million. CVB Financial had a net margin of 37.50% and a return on equity of 10.45%. During the same period in the prior year, the business posted $0.28 earnings per share. Sell-side analysts forecast that CVB Financial will post 1.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Saturday, April 6th will be issued a $0.18 dividend. This is an increase from CVB Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, April 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.56%. CVB Financial’s dividend payout ratio is presently 45.16%.

A number of hedge funds have recently added to or reduced their stakes in the business. Cliffwater LLC boosted its position in CVB Financial by 56.3% in the 4th quarter. Cliffwater LLC now owns 8,038,386 shares of the financial services provider’s stock valued at $162,617,000 after buying an additional 2,895,796 shares during the period. Vanguard Group Inc lifted its position in shares of CVB Financial by 12.8% during the 3rd quarter. Vanguard Group Inc now owns 11,983,877 shares of the financial services provider’s stock worth $267,480,000 after purchasing an additional 1,361,412 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CVB Financial by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,983,877 shares of the financial services provider’s stock worth $267,480,000 after purchasing an additional 1,361,412 shares during the last quarter. BlackRock Inc. lifted its position in shares of CVB Financial by 7.1% during the 3rd quarter. BlackRock Inc. now owns 15,496,250 shares of the financial services provider’s stock worth $345,876,000 after purchasing an additional 1,032,270 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CVB Financial during the 4th quarter worth $19,000,000. Institutional investors own 63.86% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

Further Reading: Liquidity

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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