CVB Financial Corp. (NASDAQ:CVBF) Receives Average Recommendation of 'Hold' from Brokerages

CVB Financial Corp. (NASDAQ:CVBF) has been given an average recommendation of "Hold" by six different brokerages that currently cover the company, according to recent market reports. Among these, four investment analysts suggest holding the stock, while two have issued buy recommendations. The average target price set by these analysts for the next twelve months is $20.80.

Recently, several research firms have published their evaluations of CVB Financial. Keefe, Bruyette & Woods upgraded the company from a "market perform" to an "outperform" rating, raising their target price from $20.00 to $22.00 in a report released on October 2nd. On October 24th, Wedbush maintained a "neutral" rating, setting a $20.00 price target for the shares. Meanwhile, Piper Sandler adjusted their price target down from $25.00 to $23.00 and retained an "overweight" rating on October 27th. Lastly, on July 26th, Stephens boosted their target price from $19.00 to $21.00 while granting the stock an "equal weight" rating.

Institutional Investment Activity

In recent months, institutional investors have made significant adjustments to their holdings in CVB Financial. Allspring Global Investments Holdings LLC established a new position in the company, investing approximately $27,000 in the third quarter. Additionally, nVerses Capital LLC increased its stake by an impressive 466.7% in the second quarter, now holding 1,700 shares valued at around $29,000. Versant Capital Management Inc also lifted its ownership by 832.8%, acquiring a total of 1,763 shares worth $30,000. Innealta Capital LLC joined the trend by investing $38,000 in a new stake during the same period. Lastly, GAMMA Investing LLC raised its holdings by 21.7% in the third quarter, now owning 4,367 shares valued at $78,000. Currently, institutional investors hold approximately 74.18% of CVB Financial’s stock.

Market Performance

On Monday, shares of CVB Financial opened at $19.27. The stock has seen a one-year low of $15.71 and a high of $21.77, currently boasting a market capitalization of $2.69 billion, a P/E ratio of 13.48, and a beta of 0.44. The 50-day moving average price is $18.34, while the 200-day moving average sits at $17.58.

On October 23rd, CVB Financial reported its latest earnings results, revealing earnings of $0.37 per share for the quarter, which exceeded analysts' consensus estimates of $0.35 by $0.02. The company recorded revenues of $126.45 million, slightly below the estimated $126.75 million. The net margin stood at 28.29%, with a return on equity of 9.80%. Revenue for the quarter saw a decline of 8.2% compared to the previous year, when the company reported earnings of $0.42 per share. Analysts predict an average EPS of 1.41 for the current fiscal year.

Dividend Announcement

The company has also recently announced a quarterly dividend, which was paid out on October 14th. Shareholders on record as of September 30th received a dividend of $0.20 per share, translating to an annualized dividend of $0.80 and a yield of 4.15%. The ex-dividend date for this distribution was September 30th. Currently, CVB Financial has a payout ratio of 55.94%.

About CVB Financial

CVB Financial Corp. is the parent company of Citizens Business Bank, which offers a wide range of banking and financial services to small and mid-sized businesses as well as individual clients. The bank provides various products, including checking, savings, money market, and time deposit accounts, and acts as a federal tax depository for business customers.

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