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CVB Financial (NASDAQ:CVBF – Get Free Report) had its price objective hoisted by analysts at Piper Sandler from $24.00 to $26.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 35.63% from the stock’s current price.
Separately, Keefe, Bruyette & Woods lowered their target price on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 25th.
Check Out Our Latest Stock Report on CVB Financial
CVB Financial Stock Performance
Shares of CVBF opened at $19.17 on Monday. CVB Financial has a twelve month low of $16.01 and a twelve month high of $24.58. The firm’s 50 day moving average price is $19.60 and its two-hundred day moving average price is $19.36. The firm has a market cap of $2.64 billion, a P/E ratio of 13.22 and a beta of 0.67.
CVB Financial (NASDAQ:CVBF – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. The company had revenue of $126.35 million for the quarter, compared to the consensus estimate of $127.95 million. During the same period last year, the company earned $0.36 earnings per share. On average, sell-side analysts anticipate that CVB Financial will post 1.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CVB Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in CVB Financial by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock worth $124,752,000 after purchasing an additional 400,670 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CVB Financial by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,396,677 shares of the financial services provider’s stock worth $99,623,000 after purchasing an additional 240,159 shares during the period. Capital Research Global Investors bought a new position in CVB Financial during the fourth quarter worth $94,382,000. Parallel Advisors LLC boosted its position in CVB Financial by 29.7% during the first quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider’s stock worth $70,559,000 after purchasing an additional 874,631 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of CVB Financial by 15.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider’s stock valued at $49,979,000 after acquiring an additional 317,418 shares in the last quarter. 74.18% of the stock is 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.
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