CVB Financial’s (CVBF) Neutral Rating Reiterated at Wedbush

Wedbush reiterated their neutral rating on shares of CVB Financial (NASDAQ:CVBF) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $20.00 price target on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.36 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.38 EPS and Q3 2026 earnings at $0.38 EPS.

A number of other research firms also recently issued reports on CVBF. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Stephens raised their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.25.

CVB Financial Trading Up 0.1 %

Shares of NASDAQ:CVBF traded up $0.01 during trading on Thursday, hitting $19.60. 47,162 shares of the company’s stock were exchanged, compared to its average volume of 827,929. CVB Financial has a 1-year low of $15.38 and a 1-year high of $21.77. The firm has a 50-day moving average price of $18.02 and a two-hundred day moving average price of $17.42. The firm has a market cap of $2.74 billion, a P/E ratio of 12.89 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The firm had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts predict that CVB Financial will post 1.4 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.08%. CVB Financial’s payout ratio is presently 52.63%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of CVB Financial during the 3rd quarter worth approximately $27,000. nVerses Capital LLC raised its position in CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,400 shares in the last quarter. Versant Capital Management Inc lifted its stake in CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,574 shares during the last quarter. Innealta Capital LLC bought a new position in shares of CVB Financial in the 2nd quarter valued at about $38,000. Finally, GAMMA Investing LLC increased its stake in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

CVB Financial 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.