DA Davidson reiterated their hold rating on shares of CVB Financial Corp. (NASDAQ:CVBF) in a research report report published on Monday. The firm currently has a $18.00 target price on the financial services provider’s stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of CVB Financial Corp. from a sell rating to a hold rating in a report on Monday, July 4th. Hovde Group started coverage on shares of CVB Financial Corp. in a report on Wednesday, June 22nd. They issued a market perform rating and a $17.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus price target of $18.25.
Shares of CVB Financial Corp. (NASDAQ:CVBF) opened at 17.63 on Monday. CVB Financial Corp. has a one year low of $14.02 and a one year high of $18.77. The firm’s 50-day moving average price is $17.29 and its 200-day moving average price is $16.99. The firm has a market cap of $1.90 billion, a PE ratio of 18.01 and a beta of 1.57.
CVB Financial Corp. (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. CVB Financial Corp. had a net margin of 34.99% and a return on equity of 11.07%. During the same quarter last year, the business earned $0.25 earnings per share. Equities research analysts expect that CVB Financial Corp. will post $0.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a $0.12 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.48 annualized dividend and a yield of 2.72%. CVB Financial Corp.’s dividend payout ratio (DPR) is presently 48.98%.
In other news, CEO Christopher D. Myers sold 25,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $17.76, for a total transaction of $444,000.00. Following the completion of the sale, the chief executive officer now owns 355,052 shares of the company’s stock, valued at $6,305,723.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Brager sold 8,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $17.08, for a total transaction of $136,640.00. Following the sale, the executive vice president now directly owns 25,113 shares of the company’s stock, valued at approximately $428,930.04. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of CVB Financial Corp. during the fourth quarter valued at about $11,803,000. Aperio Group LLC increased its stake in shares of CVB Financial Corp. by 39.4% in the first quarter. Aperio Group LLC now owns 28,835 shares of the financial services provider’s stock valued at $503,000 after buying an additional 8,150 shares in the last quarter. IFP Advisors Inc increased its stake in shares of CVB Financial Corp. by 0.4% in the first quarter. IFP Advisors Inc now owns 89,620 shares of the financial services provider’s stock valued at $1,564,000 after buying an additional 390 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of CVB Financial Corp. by 2.4% in the first quarter. TIAA CREF Investment Management LLC now owns 358,593 shares of the financial services provider’s stock valued at $6,257,000 after buying an additional 8,395 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in shares of CVB Financial Corp. by 16.0% in the first quarter. Teachers Advisors Inc. now owns 184,573 shares of the financial services provider’s stock valued at $3,221,000 after buying an additional 25,499 shares in the last quarter. 65.42% of the stock is owned by institutional investors.
About CVB Financial Corp.
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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