DA Davidson Issues Positive Forecast for CVB Financial (NASDAQ:CVBF) Stock Price

CVB Financial (NASDAQ:CVBF) had its target price increased by analysts at DA Davidson from $25.00 to $26.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson‘s price target suggests a potential upside of 12.78% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target for the company in a research report on Thursday, August 6th. Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

CVB Financial Stock Up 1.4%

Shares of NASDAQ CVBF traded up $0.31 during midday trading on Monday, reaching $23.05. 383,411 shares of the company’s stock were exchanged, compared to its average volume of 1,522,658. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.75. CVB Financial has a 52-week low of $18.10 and a 52-week high of $23.95. The business’s fifty day moving average price is $22.32 and its two-hundred day moving average price is $21.23. The stock has a market capitalization of $4.06 billion, a PE ratio of 15.25 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). CVB Financial had a net margin of 29.54% and a return on equity of 9.42%. The business had revenue of $195.56 million during the quarter, compared to analysts’ expectations of $192.80 million. During the same period in the prior year, the company posted $0.38 EPS. Analysts forecast that CVB Financial will post 1.77 EPS for the current year.

Insider Activity

In other news, Director Mike Maddox acquired 10,000 shares of CVB Financial stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the purchase, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This trade represents a 318.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of CVB Financial

Institutional investors have recently added to or reduced their stakes in the business. Heritage Family Offices LLP acquired a new position in shares of CVB Financial in the 3rd quarter valued at $40,000. Nykredit A S acquired a new stake in CVB Financial during the 2nd quarter worth about $43,000. Public Employees Retirement System of Ohio acquired a new stake in CVB Financial during the 2nd quarter worth about $53,000. EverSource Wealth Advisors LLC raised its holdings in CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after buying an additional 695 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in CVB Financial during the second quarter valued at about $77,000. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corporation is the bank holding company for Citizens Business Bank, a California-based financial institution founded in 1974. The bank serves businesses, professionals, individuals and nonprofit organizations, with a strong presence in Southern California and operations in other parts of the state.

Citizens Business Bank provides commercial and small-business banking, including deposit accounts, business loans, commercial real estate financing and cash-management services.