In yesterday’s Wall Street session, CVB Financial Corp. (NASDAQ:CVBF) shares traded at $23.73, down -1.54% from the previous session.
7 analysts cover CVB Financial Corp. (NASDAQ:CVBF), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $25.00, we find $27.50. Given the previous closing price of $24.10, this indicates a potential upside of 14.11 percent. CVBF stock price is now -4.39% away from the 50-day moving average and -8.30% away from the 200-day moving average. The market capitalization of the company currently stands at $3.28B.
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The stock has received a hold rating from 5 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $27.42 as their price target over the next twelve months.
With the price target maintained at $32, Keefe Bruyette recently Downgraded its rating from Outperform to Mkt Perform for CVB Financial Corp. (NASDAQ: CVBF). On August 05, 2021, Hovde Group Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock increasing its target price from $22 to quote $23, while ‘Piper Sandler’ rates the stock as ‘Overweight’.
In other news, Farnsworth David F, EVP & CCO sold 11,553 shares of the company’s stock on Oct 31. The stock was sold for $329,405 at an average price of $28.51. Upon completion of the transaction, the EVP & CCO now directly owns 34,796 shares in the company, valued at $0.83 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 28, EVP & CCO Farnsworth David F sold 3,447 shares of the business’s stock. A total of $98,178 was realized by selling the stock at an average price of $28.48. This leaves the insider owning 34,796 shares of the company worth $0.83 million. Insiders disposed of 69,095 shares of company stock worth roughly $1.64 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVBF stock. A new stake in CVB Financial Corp. shares was purchased by LIFESTEPS FINANCIAL, INC. during the first quarter worth $3,993,000. ASSET MANAGEMENT ONE CO., LTD. invested $1,845,000 in shares of CVBF during the first quarter. In the first quarter, CANADA PENSION PLAN INVESTMENT BOARD acquired a new stake in CVB Financial Corp. valued at approximately $1,709,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in CVBF for approximately $1,438,000. ALPHACREST CAPITAL MANAGEMENT LLC purchased a new stake in CVBF valued at around $464,000 in the second quarter. In total, there are 333 active investors with 74.20% ownership of the company’s stock.
On Monday morning CVB Financial Corp. (NASDAQ: CVBF) stock kicked off with the opening price of $24.02. During the past 12 months, CVB Financial Corp. has had a low of $22.36 and a high of $29.25. The fifty day moving average price for CVBF is $24.82 and a two-hundred day moving average price translates $25.88 for the stock.
The latest earnings results from CVB Financial Corp. (NASDAQ: CVBF) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.47, missing analysts’ expectations of $0.48 by -0.01. This compares to $0.34 EPS in the same period last year. The net profit margin was 45.50% and return on equity was 11.90% for CVBF. The company reported revenue of $142.12 million for the quarter, compared to $103.53 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.27 percent. For the current quarter, analysts expect CVBF to generate $134.87M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 12/29/2022 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 3.37% percent yield. There was an ex-dividend date of 12/28/2022 for this dividend. In terms of dividend payout ratio, CVBF is presently at 44.60%.
CVB Financial Corp.(CVBF) Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers. The company also provides commercial lending products comprising lines of credit and other working capital financing, accounts receivable lending, and letters of credit; agriculture loans to finance the operating needs of wholesale dairy farm operations, cattle feeders, livestock raisers, and farmers; lease financing services for municipal governments; commercial real estate and construction loans; and consumer financing products, including automobile leasing and financing, lines of credit, credit cards, home mortgages, and home equity loans and lines of credit. In addition, it offers various specialized services, such as treasury management systems for monitoring cash flow, merchant card processing program, armored pick-up and delivery, payroll services, remote deposit capture, electronic funds transfers, wires and automated clearinghouse, and online account access. Further, the company provides trust services through its CitizensTrust Division, such as fiduciary services, mutual funds, annuities, 401(k) plans, and individual investment accounts. As of December 31, 2021, it operated 58 banking centers located in the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California; and three trust offices located in Ontario, Newport Beach, and Pasadena, as well as two loan production offices in California’s Central Valley and the Sacramento area. The company was founded in 1974 and is headquartered in Ontario, California.
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