CVB Financial Corp. (NASDAQ:CVBF) Given Consensus Recommendation of “Hold” by Analysts

CVB Financial Corp. (NASDAQ:CVBF) has been given an average rating of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts recently commented on the stock. StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods cut their price objective on CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Wedbush lowered their price target on CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday.

Insiders Place Their Bets

In other news, CEO David A. Brager purchased 2,000 shares of CVB Financial stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other CVB Financial news, CEO David A. Brager bought 2,000 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the transaction, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George A. Borba, Jr. purchased 59,601 shares of the stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders have bought 63,601 shares of company stock valued at $1,067,145 over the last ninety days. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of CVB Financial in the fourth quarter valued at approximately $36,000. GAMMA Investing LLC purchased a new position in CVB Financial in the 4th quarter valued at approximately $102,000. Headlands Technologies LLC purchased a new position in CVB Financial in the 4th quarter valued at approximately $122,000. Assetmark Inc. boosted its position in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the period. Finally, Covestor Ltd increased its position in shares of CVB Financial by 11.2% during the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Trading Down 1.0 %

Shares of CVBF stock opened at $16.47 on Thursday. The stock has a 50 day moving average of $17.01 and a 200 day moving average of $17.70. The stock has a market cap of $2.30 billion, a P/E ratio of 10.36 and a beta of 0.46. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $138.52 million for the quarter, compared to analysts’ expectations of $134.88 million. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. On average, research analysts predict that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s payout ratio is currently 50.31%.

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.