CVB Financial (NASDAQ:CVBF) Raised to “Overweight” at Stephens

CVB Financial (NASDAQ:CVBF) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a $27.00 price target on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 19.15% from the stock’s current price.

A number of other brokerages have also commented on CVBF. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Piper Sandler boosted their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. DA Davidson increased their price target on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.25.

CVB Financial Trading Down 0.2%

CVB Financial stock opened at $22.66 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77. The business’s 50-day simple moving average is $21.98 and its 200-day simple moving average is $20.67. The firm has a market capitalization of $4.00 billion, a PE ratio of 15.63 and a beta of 0.65. CVB Financial has a 52 week low of $17.94 and a 52 week high of $23.36.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter in the previous year, the company earned $0.36 EPS. Equities research analysts forecast that CVB Financial will post 1.72 earnings per share for the current year.

Insider Transactions at CVB Financial

In other news, Director Brien Raymond V. O. III purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $22.77 per share, with a total value of $455,400.00. Following the acquisition, the director directly owned 85,780 shares of the company’s stock, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George A. Borba, Jr. purchased 25,187 shares of CVB Financial stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the transaction, the director owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. This represents a 3.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 95,429 shares of company stock valued at $1,955,178. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd boosted its holdings in shares of CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in CVB Financial during the 4th quarter valued at $42,000. Larson Financial Group LLC boosted its stake in CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in CVB Financial by 40.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of CVB Financial during the second quarter worth $103,000. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.