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UPDATE: Crowell Weedon & Co. Initiates CVB Financial at Buy/Add on Dividend Outlook

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Crowell Weedon & Co. initiated coverage on CVB Financial (NASDAQ: CVBF) with a Buy/Add rating and a $15 price target.

Crowell Weedon & Co. commented, "CVBF escaped the 2008 financial crisis and ensuing recession with its 35 year streak of quarterly profits intact. Additionally, the company's dividend avoided reduction and now yields nearly 3%. After five years without an increase, the dividend is poised to grow again as earnings recover and the company deploys excess capital. Our price target on CVBF shares of $15 is based on our belief that CVBF shares can trade at 2X book value, a level reached (and exceeded) in the past."

CVB Financial closed at $10.82 on Wednesday.

Latest Ratings for CVBF

Sep 2016Keefe Bruyette & WoodsMaintainsMarket Perform
May 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Jul 2015Keefe Bruyette & WoodsMaintainsMarket Perform

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Posted-In: Crowell Weedon & Co.Analyst Color Initiation Intraday Update Analyst Ratings


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