Shares of CVB Financial Corp. (NASDAQ:CVBF) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $22.50.
CVBF has been the topic of several analyst reports. Sandler O’Neill restated a “hold” rating and issued a $24.00 price target on shares of CVB Financial in a research note on Thursday, January 4th. Zacks Investment Research lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. ValuEngine lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, BidaskClub lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th.
Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Wells Fargo & Company MN increased its stake in shares of CVB Financial by 9.0% during the second quarter. Wells Fargo & Company MN now owns 131,133 shares of the financial services provider’s stock valued at $2,941,000 after acquiring an additional 10,880 shares during the period. New York State Common Retirement Fund increased its stake in shares of CVB Financial by 2.7% during the second quarter. New York State Common Retirement Fund now owns 109,400 shares of the financial services provider’s stock valued at $2,454,000 after acquiring an additional 2,899 shares during the period. GSA Capital Partners LLP acquired a new position in shares of CVB Financial during the second quarter valued at approximately $238,000. Parametric Portfolio Associates LLC increased its stake in shares of CVB Financial by 18.1% during the second quarter. Parametric Portfolio Associates LLC now owns 141,544 shares of the financial services provider’s stock valued at $3,175,000 after acquiring an additional 21,732 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of CVB Financial by 9.8% during the second quarter. Voya Investment Management LLC now owns 45,428 shares of the financial services provider’s stock valued at $1,019,000 after acquiring an additional 4,036 shares during the period. Institutional investors and hedge funds own 69.02% of the company’s stock.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $83.86 million during the quarter, compared to analyst estimates of $82.00 million. During the same quarter in the previous year, the business posted $0.25 EPS. sell-side analysts anticipate that CVB Financial will post 1.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Friday, January 5th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.37%. CVB Financial’s dividend payout ratio is presently 58.95%.
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CVB Financial Company Profile
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.
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