CVB Financial Corp. (NASDAQ:CVBF) has been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $22.50.
CVBF has been the subject of a number of research reports. Zacks Investment Research cut shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Monday, December 25th. Sandler O’Neill reaffirmed a “hold” rating and issued a $24.00 price objective on shares of CVB Financial in a research note on Thursday, January 4th. BidaskClub raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, ValuEngine lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th.
A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in CVB Financial by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 79,856 shares of the financial services provider’s stock worth $1,791,000 after purchasing an additional 1,495 shares during the period. Louisiana State Employees Retirement System boosted its stake in CVB Financial by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 2,600 shares during the period. Victory Capital Management Inc. boosted its stake in CVB Financial by 36.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,082 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 2,698 shares during the period. Epoch Investment Partners Inc. boosted its stake in CVB Financial by 0.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 387,136 shares of the financial services provider’s stock worth $9,357,000 after purchasing an additional 2,831 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in CVB Financial by 2.7% in the 2nd quarter. New York State Common Retirement Fund now owns 109,400 shares of the financial services provider’s stock worth $2,454,000 after purchasing an additional 2,899 shares during the period. 69.02% of the stock is owned by hedge funds and other institutional investors.
Shares of CVB Financial (NASDAQ CVBF) traded up $0.30 during trading hours on Friday, reaching $23.64. 199,300 shares of the company were exchanged, compared to its average volume of 371,329. The company has a market capitalization of $2,604.77, a PE ratio of 24.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.43. CVB Financial has a 1 year low of $19.58 and a 1 year high of $25.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.02.
CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $83.86 million for the quarter, compared to the consensus estimate of $82.00 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. research analysts predict that CVB Financial will post 1.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Friday, January 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, January 4th. CVB Financial’s dividend payout ratio is 58.95%.
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About CVB Financial
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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