Wedbush Cuts CVB Financial (NASDAQ:CVBF) Price Target to $20.00

CVB Financial (NASDAQ:CVBF) had its price target reduced by Wedbush from $21.00 to $20.00 in a report issued 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 analysts have also recently weighed in on CVBF. Keefe, Bruyette & Woods reissued a market perform rating and set a $20.00 price objective (up from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Stephens boosted 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 analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $19.75.

CVB Financial Stock Performance

Shares of CVBF stock opened at $17.65 on Tuesday. The stock has a fifty day moving average price of $17.91 and a 200 day moving average price of $17.22. The stock has a market cap of $2.46 billion, a PE ratio of 11.68 and a beta of 0.45. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77.

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

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Insider Activity at CVB Financial

In other CVB Financial 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 value of $50,751.54. Following the sale, the director now directly owns 13,156 shares of the company’s stock, valued at approximately $225,493.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several hedge funds have recently modified their holdings of the stock. nVerses Capital LLC raised its stake 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 purchasing an additional 1,400 shares during the period. Versant Capital Management Inc raised its position in shares of CVB Financial by 832.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,574 shares during the period. Innealta Capital LLC acquired a new position in CVB Financial in the second quarter valued at $38,000. Assetmark Inc. grew its position in CVB Financial by 141.5% during the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 5,038 shares during the period. Finally, WBI Investments LLC acquired a new stake in CVB Financial during the second quarter worth about $177,000. 74.18% of the stock is owned by institutional investors and hedge funds.

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.