CVB Financial Corporation (NASDAQ:CVBF) Receives $24.13 Consensus Target Price from Brokerages

CVB Financial Corporation (NASDAQ:CVBFGet Free Report) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.1250.

CVBF has been the subject of a number of research reports. Weiss Ratings upgraded shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Stephens restated an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a report on Tuesday, June 16th. Finally, Piper Sandler raised their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, April 27th.

Read Our Latest Analysis on CVB Financial

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. bought 25,187 shares of CVB Financial stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the acquisition, the director owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. This represents a 3.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVBF. HoldCo Asset Management LP boosted its stake in CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the period. Clifford Capital Partners LLC boosted its stake in CVB Financial by 3,800.6% in the 3rd quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after purchasing an additional 648,229 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in CVB Financial by 71.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock worth $23,684,000 after purchasing an additional 507,228 shares during the period. Weiss Asset Management LP acquired a new position in CVB Financial in the 1st quarter worth approximately $8,303,000. Finally, Bernzott Capital Advisors acquired a new position in CVB Financial in the 1st quarter worth approximately $8,054,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Up 1.2%

Shares of NASDAQ:CVBF opened at $21.05 on Tuesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.85 and a beta of 0.66. CVB Financial has a 1-year low of $17.94 and a 1-year high of $21.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50 day moving average price of $20.42 and a 200 day moving average price of $19.94.

CVB Financial (NASDAQ:CVBFGet Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $132.12 million during the quarter, compared to analysts’ expectations of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period last year, the firm posted $0.36 earnings per share. On average, research analysts anticipate that CVB Financial will post 1.56 EPS for the current fiscal year.

About CVB Financial

(Get Free Report)

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

Further Reading

Analyst Recommendations for CVB Financial (NASDAQ:CVBF)

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