CVB Financial (NASDAQ:CVBF) Given New $20.00 Price Target at Wedbush

CVB Financial (NASDAQ:CVBF) had its price objective decreased by Wedbush from $21.00 to $20.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for CVB Financial’s Q4 2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS and FY2026 earnings at $1.60 EPS.

A number of other research firms have also recently weighed in on CVBF. Keefe, Bruyette & Woods reiterated a market perform rating and set a $20.00 price target (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. Stephens increased their price target on CVB Financial from $19.00 to $21.00 and gave the stock an equal weight rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $19.75.

CVB Financial Stock Up 0.5 %

Shares of CVBF opened at $17.73 on Tuesday. CVB Financial has a 52-week low of $14.62 and a 52-week high of $21.77. The company has a market capitalization of $2.48 billion, a PE ratio of 11.66 and a beta of 0.45. The stock has a fifty day simple moving average of $17.88 and a two-hundred day simple moving average of $17.23.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The business had revenue of $125.27 million during the quarter, compared to the consensus estimate of $126.86 million. During the same period last year, the company earned $0.40 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that CVB Financial will post 1.4 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Insider Activity at CVB Financial

In related news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC boosted its holdings in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares during the period. Versant Capital Management Inc boosted its holdings in CVB Financial by 832.8% during the 2nd 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 period. Innealta Capital LLC purchased a new position in shares of CVB Financial in the 2nd quarter valued at about $38,000. Assetmark Inc. boosted its stake in shares of CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the period. Finally, WBI Investments LLC purchased a new position in shares of CVB Financial in the 2nd quarter valued at about $177,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

About CVB Financial

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.