Piper Jaffray Companies set a $23.00 target price on CVB Financial (NASDAQ:CVBF) in a research report released on Monday morning. The brokerage currently has a hold rating on the financial services provider’s stock. Piper Jaffray Companies also issued estimates for CVB Financial’s Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.31 EPS, Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $1.52 EPS, Q1 2020 earnings at $0.38 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.39 EPS and FY2020 earnings at $1.55 EPS.
CVBF has been the subject of several other reports. BidaskClub lowered CVB Financial from a buy rating to a hold rating in a research report on Saturday, August 25th. Wedbush reissued a neutral rating on shares of CVB Financial in a research report on Monday, July 16th. Zacks Investment Research raised CVB Financial from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, September 18th. Finally, Hovde Group set a $25.00 price objective on CVB Financial and gave the stock a hold rating in a research report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. CVB Financial currently has an average rating of Hold and a consensus price target of $25.10.
CVBF stock opened at $21.85 on Monday. CVB Financial has a 1-year low of $19.50 and a 1-year high of $25.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.81 and a quick ratio of 0.72. The stock has a market capitalization of $2.43 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.82 and a beta of 1.38.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 3rd were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Tuesday, October 2nd. CVB Financial’s payout ratio is 52.34%.
A number of institutional investors have recently modified their holdings of CVBF. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in CVB Financial in the 3rd quarter valued at about $118,000. GSA Capital Partners LLP bought a new stake in CVB Financial in the 2nd quarter valued at about $204,000. Verition Fund Management LLC bought a new stake in CVB Financial in the 1st quarter valued at about $216,000. OppenheimerFunds Inc. bought a new stake in CVB Financial in the 2nd quarter valued at about $217,000. Finally, TradeLink Capital LLC bought a new stake in CVB Financial in the 2nd quarter valued at about $224,000. 70.05% 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 that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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