Fintel reports that on December 8, 2023, Stephens & Co. initiated coverage of CVB Financial (NASDAQ:CVBF) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 2.94% Upside
As of November 27, 2023, the average one-year price target for CVB Financial is 20.20. The forecasts range from a low of 18.18 to a high of $23.10. The average price target represents an increase of 2.94% from its latest reported closing price of 19.62.
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The projected annual revenue for CVB Financial is 587MM, an increase of 6.76%. The projected annual non-GAAP EPS is 2.03.
CVB Financial Declares $0.20 Dividend
On September 20, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of October 4, 2023 received the payment on October 19, 2023. Previously, the company paid $0.20 per share.
At the current share price of $19.62 / share, the stock's dividend yield is 4.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.63%, the lowest has been 2.45%, and the highest has been 6.94%. The standard deviation of yields is 0.77 (n=236).
The current dividend yield is 0.59 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 527 funds or institutions reporting positions in CVB Financial. This is an increase of 16 owner(s) or 3.13% in the last quarter. Average portfolio weight of all funds dedicated to CVBF is 0.14%, an increase of 19.36%. Total shares owned by institutions decreased in the last three months by 0.80% to 118,058K shares. 
The put/call ratio of CVBF is 0.91, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 8,938K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 9,132K shares, representing a decrease of 2.16%. The firm increased its portfolio allocation in CVBF by 26.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,213K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 4,208K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in CVBF by 29.64% over the last quarter.
American Century Companies holds 3,937K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 2,733K shares, representing an increase of 30.58%. The firm increased its portfolio allocation in CVBF by 86.36% over the last quarter.
Silvercrest Asset Management Group holds 3,761K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 3,175K shares, representing an increase of 15.56%. The firm increased its portfolio allocation in CVBF by 57.26% over the last quarter.
Neuberger Berman Group holds 3,630K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 3,637K shares, representing a decrease of 0.20%. The firm decreased its portfolio allocation in CVBF by 35.55% over the last quarter.
CVB Financial Background Information
(This description is provided by the company.)
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $13 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services through 57 banking centers and 3 trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California.
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This story originally appeared on Fintel.
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